The indaba sought to promote the sustainable use of biological resources and how it could promote socio-economic and livelihood support, whilst these activities increase awareness and allocate resources integral for sustainable use of the biodiversity.
The discussions were informed by the Draft Biodiversity Economy Strategy (BES), adopted by indaba delegates, on which the public has an opportunity to comment by 19 November 2015.
The 14-year strategy is the government's blueprint for sustaining the growth of the wildlife and bioprospecting industries. The aim of the strategy is to provide a basis for addressing constraints for growth in the sector; outline stakeholder responsibilities; and monitor progress with regard to transformative enabling interventions.
An industry growth goal has been set in the strategy which requires that by the year 2030 the South African biodiversity economy will achieve an average annualised GDP growth rate of 10% per annum in line with the National Development Plan's Vision 2030.
BES provides the opportunity to develop the rural economy of the country while addressing environmental imperatives of government, and includes the establishment of a national biosprospecting forum to enhance development in the natural ingredients sector, launched during the indaba.
"I want to see this forum playing a key role in the current review of the National Environmental Management Biodiversity Act. I also hope to see the forum serve as a vital platform for making recommendations that will be taken to key multilateral platforms such as the Convention on Biological Diversity. This will be particularly resonant at a time when South Africa prepares to host the 17th Conference of the Parties to CITES next year," the Minister of Environmental Affairs, Edna Molewa, said.
A Market-Sizing Report and the Scoping Report on Biodiversity Mainstreaming in Business were also launched at the indaba.
Key findings of the bioprospecting and biotrade market-sizing in South Africa have provided an insight into the manner in which value is being added to the country's biodiversity and the extent that it is sought after by domestic and international markets.
It was also found that the potential market size of the bioprospecting industry up until 2012, was at least R2.5m per year. This means that the industry has reached only about 20% of its potential.
