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A Global Perspective
The World BioEconomy Forum recently conducted an extensive analysis of bioeconomy programs across key regions, including Brazil, the USA, Canada, the EU, Sweden, Finland, India, and China. While not all of these regions have published national bioeconomy strategies, they all share a common interest in fostering bioeconomy growth. For instance, Brazil is intensifying its focus on this sector, promising exciting opportunities for bio-based innovation and sustainable development.
A Changing Global Bioeconomy
The international bioeconomy has been undergoing a dynamic transformation, particularly since 2022. Major economic powers like China and the USA have significantly increased their involvement in this sector. China, for example, unveiled its inaugural bioeconomy strategy in May 2022, and the USA followed suit by updating its strategy through Executive Order 14081 to advance Biotechnology and Biomanufacturing in September 2022. Both nations are competing to establish themselves as global bioeconomy leaders, setting the stage for a competitive landscape.
Bioeconomy on the Global Stage
The significance of the bioeconomy is gaining prominence on the international stage. For instance, the United Nations Industrial Development Organization (UNIDO) organised a bioeconomy panel for the first time at the UNFCCC COP27 last autumn. Furthermore, India has taken proactive steps by placing the bioeconomy on the agenda for the G20 meeting this year. This growing interest underscores the global consensus on considering the bioeconomy as a source of innovative solutions to address urgent global challenges.
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