Recently, the concept of bioeconomy has become increasingly commonplace. For example, the Icelandic Presidency of the Nordic Council of Ministers focused on the Nordic bioeconomy, and the current Danish Presidency of the Nordic Council of Ministers takes into account the bioeconomy, especially the ocean, or the blue bioeconomy. .
In connection with this emphasis, we can mention a successful conference held in the Faroe Islands last June, which discussed bioeconomy following the emphasis on knowledge societies. European co-operation on research and development identified the "knowledge-based bioeconomy" as one of the co-operation priorities for the years 2007-2013.
Food producers have common interests and co-operation between different branches of food production can benefit each and every one as well as a larger group of food producers. For example, Matvælalandið Ísland has highlighted the undoubted benefits of multifaceted co-operation within the bioeconomy.
There are many different definitions of the bioeconomy. The definition often takes into account the environment of the definer and the interests of a smaller or larger entity in a particular area. It is important that the definition of a bioeconomy covers issues that are all important, as a bioeconomy in one place is likely to affect the bioeconomy of other places.
The term bioeconomy has been used to cover all life resources, their interplay and context and their impact on economic, environmental and social factors. Bioeconomic research thus transcends industries and seeks to maximize the benefits of resources without compromising them.
Sigrún Elsa Smáradóttir, Matís 2013 annual report