Addis Ababa: Ethiopia has immense potential for blue economy vital to expedite its development endeavors, according to Blue Economy Division Head of the AU Commission and Program Manager for Sustainable Environment Protection Program Manager of IGAD.

Blue economy is economic activities that are associated with natural resources found in water bodies including oceans, rivers and lakes.

Ethiopia is an African nation that is endowed with immense fresh water resources such as lakes and rivers that have enormous potentials to develop the blue economy of the country.

Blue Economy Division Head at AU Commission Georgeo Asseko and IGAD Sustainable Environment Protection Program Manager, Eshete Dejen have insisted Ethiopia to fully utilize its immense potentials in blue economy.

Asseko told ENA that with taking innovative and advanced technologies as well as keeping the resources from pollution and environmental degradation, Ethiopia can fully utilize and transform this potential in to economy and social developme
nt.

He pointed out that tourism, energy, transport, and fishery, among others are some of the benefits that the nation would gain from blue economy.

‘Ethiopia is always on the way; and we are glad to say that it is one of the countries we are following. So, there is a huge potential also for Ethiopia to develop blue economy,’ Asseko stated.

In this regard, African Union Commission is working on creating regional economic community through building the capacity of member states to understand the concept of blue economy and to see its opportunities for sustainable development, he underscored.

Reiterating on Ethiopia’s immense potential in blue economy, IGAD Sustainable Environment Protection Program Manager, Eshete Dejen on his part said ‘Ethiopia has huge resource in terms of blue economy like hydropower, marine and inland transport, and tourism.’

Fishery and tourist attraction sites of Lake Tana and Lake Ziway as well as the great source of hydropower generation, GERD can be best examples of the nation’s
gifted blue economy.

Insisting Ethiopia to fully utilize its opportunities of blue economy, IGAD stands ready in supporting Ethiopia in developing blue economy strategy, resource mobilization and capacity building.

‘We are supporting member states in terms of developing their strategy, resource mobilization, capacity building and knowledge sharing,’ Eshete noted.

He further underscored that Ethiopia’s abundant fresh water resources offer exceptional opportunities for transformative economic and social development of the country.

Blue Economy is among the main strategic focus areas of Ethiopia’s ten-year economic perspective plan.

Source: Ethiopian News Agency