India signs agreement with France for blue economy

NEW DELHI: India and France signed an agreement to augment their bilateral exchanges on the blue economy thereby forming a common vision of ocean governance based on the rule of law and cooperate on sustainable and resilient coastal and waterways infrastructure. The agreement was signed during the visit of Jaishankar Prasad, Minister of External affairs, Government of India to France for bilateral talks with his French counterpart Jean-Yves Le Drian. 

Maritime trade, the naval industry, fisheries, marine technology and scientific research, ocean observation, marine biodiversity, marine ecosystem-based management and integrated coastal management, marine eco-tourism, inland waterways, civil maritime cooperation, marine spatial planning, and international law of the sea and related multilateral negotiations will all be covered in the roadmap.

The External Affairs ministry said that both the nations aim to make the blue economy a driver of progress in their respective societies while respecting the environment and coastal and marine biodiversity. They intend on contributing to scientific knowledge and ocean conservation to ensure that the ocean remains a global common, a space for freedom and trade. According to the statement, both the nations wish to contribute to the Sustainable Development Goal.

An annual bilateral dialogue on the blue economy and ocean governance is planned between India and France. Such discussions will allow for an exchange of ideas on their goals, the sharing of best practises, and the encouragement of continued and future cooperation. Since, France has expertise in aquaculture, the two nations will work on commercial development of new farming technologies, joint development in the farming of marine organisms for food, and other products such as jewellery and pharmaceuticals in ways that does not harm the environment. They will also work together to expand domestic waterways, which is one of India’s top goals for infrastructure development.

The two nations also plan on seeking private funding to establish Research & Development Centre to work to spur and support projects on blue economy and ocean expertise with cooperative initiatives.