Iceland, as a large ocean state, rather than a small island state, has great potential in leading value creation within the blue bioeconomy. "It is not enough that we use the resource very well, we create quality raw materials and let very little be wasted compared to other nations. Iceland's advantage in this field extends not only to traditional seafood but also to the utilization of marine resources for the production of food supplements, medical products and cosmetics, to name a few examples. Iceland's knowledge covers the entire value chain of seafood and our strength in this field is something we could make much better use of, as well as opportunities related to other organisms, such as algae, "says Sveinn Margeirsson, CEO of Matís, in a recent interview with Morgunblaðið.
In the interview, Sveinn discusses the uniqueness of Iceland and points out how little other nations are able to utilize the blue bioeconomy: “The bioeconomy refers to the part of the economy that is based on living and renewable resources, and the blue bioeconomy covers all the living marine resources we use. The blue economy is underutilized in many parts of the world, from which less than 5% of all food comes, while more than 95% of food is produced on land - despite the fact that lakes and oceans cover more than 70% of the earth's surface. "
Sveinn says that Iceland's peculiarities are reflected in the fact that the proportions have been reversed and about 80-90% of all the food that the country produces comes from the sea.
Sveinn encourages both the government and industry to look very carefully "at using, for example, the knowledge that exists in the Icelandic fishing industry to greatly improve processing, fishing and marketing in many parts of the world." In all continents, you can find countries that have all the means to use marine resources much better and are in the same position as Iceland was 30 or 40 years ago. Participating in bringing the fishing industry of these nations into modern times would not only be a good business opportunity, but could also increase the prosperity of the country and the nation."
In Sveinn's opinion, Icelanders should “coordinate their policies in fisheries, foreign affairs and trade, and launch a campaign. Now is exactly the time, as it is predicted that the blue bioeconomy will grow enormously and that around the world a lot of money will be spent on this part of the economy. Iceland needs to be at the forefront of this development, otherwise there is a risk that we will lag behind. "
The interview can be read in its entirety on Morgunblaðið's fisheries website 200 miles away.