The UN Conference on Trade and Development (UNCTAD) convened a three-day forum to discuss ocean governance and shape global trade-related ocean policies. The forum’s recommendations lay the groundwork for action-oriented voluntary commitments at the Third UN Ocean Conference (UNOC3) in June. They also contribute to the Blue Economy and Finance Forum, scheduled for the week prior to UNOC3, and to the 16th session of UNCTAD in October.
The fifth UN Ocean Forum on trade-related aspects of SDG 14 (life below water) took place in Geneva, Switzerland, from 3-5 March 2025. Chaired by France and Costa Rica, who will also chair UNOC3, it brought together ministers, government representatives, experts, entrepreneurs, international organizations, and civil society “to better align trade and economic policies with ocean sustainability and the sustainable use of marine resources.”
The Forum acknowledged the role the ocean plays in sustaining biodiversity and regulating the climate while supporting food security and livelihoods and driving global trade. It highlighted opportunities brought about by the ocean economy’s rapid growth, including ocean trade in goods and services, South-South trade in fisheries, and marine-based substitutes for plastics – an estimated USD 10.8 billion market.
Discussions underscored that major governance gaps and mounting threats posed by climate change, overfishing, and pollution threaten the ocean’s long-term sustainability. The Forum’s five sessions sought to drive change by focusing on trade trends, nationally determined contributions (NDCs) for ocean sectors, South-South trade, innovative marine products, and blue finance.
A Chairs’ summary of recommendations highlights the Forum’s emphasis on the importance of: decarbonizing ocean economies by implementing climate action plans and reporting commitments and progress through NDCs; harnessing and strengthening ocean trade, maritime transport, and port infrastructure to sustain livelihoods and equity; promoting sustainable South-South trade in fisheries and aquaculture as a means for value addition and diversification; and enabling innovation in food and non-food marine-based and natural product sectors in response to food security and pollution reduction challenges. The summary also points to an urgent need to scale up novel forms of public and private investment and finance in sustainable ocean sectors.
Initiatives launched at the Forum include:
- An update to the Ocean Trade Database with specific economic indicators under UNCTADstat, providing country-level data, indicators, and visualization tools;
- An UNCTAD and UN Department of Economic and Social Affairs (DESA) project on evidence-based ocean climate action, using artificial intelligence (AI) and data innovation to support Caribbean SIDS, deposited as a voluntary commitment under the UN Ocean Conference; and
- A proposal for a UN task force on seaweed development to promote the sustainable growth of the seaweed sector.
The Forum’s discussions helped coordinate global efforts to implement recommendations to support the emergence of sustainable ocean-based economies in small island developing States (SIDS) and coastal communities under the UNCTAD SIDS strategy.
The Forum also featured the Marine-based Products and Services Expo showcasing how marine-based products and services can aid in the stewardship of oceans while creating jobs and supporting livelihoods. [Fifth UN Ocean Forum] [UNCTAD News Release] [UN News Story]
