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December 2017 Marine Economics and Policy Research Symposium Held in Galway
A recent Marine Economics and Policy Research Symposium provided participants with an update on a wide range of policy topics related to the marine sector in Ireland. Organised each year by the Socio-Economic Marine Research Unit (SEMRU) of the Whitaker Institute at NUI Galway, with support from the Marine Institute, this year’s theme was ‘Past, Present and Future’ with sessions dedicated to marine related issues focused on each of these time periods.
Dr Stephen Hynes of SEMRU at NUI Galway, spoke of the strong maritime tradition in Ireland and the potential for growth in the ocean economy across a number of industries. “In my view, marine development opportunities lie in what we as a nation have shown we are already good at. For example, using our skills and capacity in the information technology and biotechnology sectors to generate marine communications solutions and to produce new active ingredients for use in food and pharmaceuticals; applying our skills in finance and leasing in the development of shipping services.”
Dr Hynes continued: “SEMRU’s ocean economy figures demonstrate particularly strong growth over the 2014 to 2016 period in a number of industries that have previously seen slow growth, or are at the early stages of development such as marine renewables, marine advanced tech and oil and gas.”
The Symposium looked to the past in order to see what lessons might be learned for marine policy makers today. Dr Aidan Kane from the J.E. Cairnes School of Business and Economics at NUI Galway presented historical data from cargo manifestos associated with Irish ports, which gives the researcher an insight into the evolving structure of regional economies in Ireland.
The event also focused on the present marine policy environment presented by Professor Cathal O’Donoghue, NUI Galway, who examined the economic strength and weaknesses of coastal areas in terms of unemployment and migration from the great recession through to the recent economic recovery. NUI Galway’s Dr Amanda Slevin then gave a critique of Irish state hydrocarbon management while Tom Gillespie looked at the contribution from having a sea view and what the distance to coastal amenities makes to propriety values.
The plenary session was given by leading marine law expert Professor Ronán Long who holds the Nippon Foundation Chair of Ocean Governance at the World Maritime University in Sweden. He gave a fascinating insight into recent developments in climate change and their implications for our ocean resources, particularly in light of the Paris Agreement 2015.
The final session of the day examined how marine policy and maritime industries could be transformed in the future. Philip Stephens and Liam Lacey of the Irish Maritime Development Office presented the case for creating an International Shipping Services Centre in Cork, which could deliver on key components of the Government’s integrated plan for the marine industry, creating a flagship project of scale with significant regional development potential.
Liam Lacey said: “Ireland has been successful in building world-class financial services and aviation leasing industries. Building on these successes, Ireland can become a hub for maritime commerce through exploiting existing competitive advantages, being disruptive in a very traditional industry, and reconceiving maritime commerce through blue ocean strategies. Ireland’s claim is strengthened by Brexit and by the impressive recovery of the Irish economy in recent years.”