The cultivation of seaweed for human consumption has gained importance worldwide due to its nutritional properties, which are highly valued in the food industry.

However, this activity in emerging APEC economies has not yet reached its maximum level of development, mainly due to the following problems:

(i) the lack of legislation to promote it;

(ii)  deficiencies in cultivation technologies adapted to each ecosystem and seaweed species;

(iii) lack of promotion of markets and domestic consumption in emergent APEC economies; and

(iv) inexistence of added value from seaweed. These issues affect APEC emergent economies because they don’t allow efficient seaweed harnessing, limit the trade capabilities of MSMEs and their opportunities to insert the worldwide seaweed market, and restrict their added value development opportunities. 

The vast biodiversity of seaweeds, many of which have yet to be identified, presents high potential for developing a new food sector for domestic consumption and export to other economies. The Asia Pacific commercial seaweed market is expected to register a compound annual growth rate (CAGR) of around 10% through 2027, reaching an estimated US$ 95 billion. Specifically, annual demand in the food industry is expected to exceed 20.5 tons by 2027. This segment includes direct food and food additives, which have long been consumed as staple food products, particularly in China, Indonesia, Korea, Malaysia, Japan and the Philippines. Consequently, China and Japan are the largest producers and consumers. Globally, however, there is a growing popularity of plant-based products and novel food ingredients derived from seaweed. 

The project meets the Eligibility Criteria and Guidelines for Accessing the Micro, Small and Medium Enterprises (MSME) Sub-Fund since it supports MSME related capacity building activities in APEC developing economies such as Peru, Chile and Mexico, as well as indirectly targets MSMEs in these low- and lower-middle-income APEC economies. In this sense, the project indirectly supports the development of entrepreneurial capacity in MSMEs for seaweed culture since it has gained worldwide importance due to its highly valued nutritional properties in the food industry.

he project aims to develop capacities through three key points:

A)  Knowledge sharing through high-impact presentations in the frame of the symposium presented by APEC experts/speakers.

B)  Promoting collaborative work among APEC economies through successful experiences in the seaweed sector to reduce technological gaps between APEC emerging economies.

C) Elaborate and publish a Final Report that compiles systematized information from the symposium to visualize the potential of seaweed cultivation in the APEC emerging economies as a sustainable, productive sector. Moreover, the project meets the APEC Capacity Building Goals, Objectives and Principles, such as the goal of attaining sustainable growth and equitable development in the Asia-Pacific region through the following operational principles (among others): 

- Innovation: Through the symposium, the project aims to promote the implementation of technologies for new or under-cultivated seaweed species with commercial interest. The maritime coastlines of Latin American economies have unique geography, so technological adaptations that could lead to innovations, including the development of novel technologies for these new seaweed species, will be necessary.

- Inclusiveness: The project proposes to address the importance of the involved SMEs collaborating with artisanal fishing communities in the future, who would dedicate themselves full-time to the cultivation and extraction of seaweed. This inclusive approach ensures that all stakeholders are part of the project's success. Additionally, the activity would also promote indirectly the inclusion of women in certain stages such as seaweed propagation and post-harvest selection.

- Enabling: Through the participation of professionals related to SMEs, the symposium will give them the knowledge to generate successful seaweed cultivation and new product development projects. In this sense, the goal is indirectly increasing business involvement, enhancing competitiveness and creating new job opportunities.