UN Ocean Forum to Discuss Livelihoods of Millions Who Depend on Fisheries

By Caribbean Business Report

The 5th United Nations Ocean Forum on trade-related aspects of Sustainable Development Goal #14 is taking place online. The ocean is essential to all life. It sustains biodiversity, regulates the climate and generates oxygen while supporting food security, creating jobs and driving global trade. 

But climate change, overfishing and pollution threaten marine ecosystems and the 600 million people worldwide who rely on fisheries for their livelihoods. The 5th UN Ocean Forum will unite global leaders, experts and stakeholders to align trade and economic policies with ocean sustainability and the sustainable use of marine resources. 

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The ocean economy is outpacing other sectors, expanding 2.5 times since 1995 compared to 1.9 times for the global economy. Ocean trade in goods and services hit a record of $2.2 trillion in exports in 2023, showing a strong recovery from the COVID-19 pandemic. 

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South-South trade in fisheries is surging, with primary fish exports growing 43% to $19 billion from 2021 to 2023, while processed fish exports soared 89% to $23 billion in the same period. Marine-based substitutes for plastics offer a $10.8 billion market opportunity that can help cut plastic pollution while creating new business avenues. The forum is being held in person and online. It is open to the public, but registration is required.

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