I’m delighted to speak in support of this motion today. Indeed, I can do so from a unique position, being the only Assembly Member who sits on both the Economy, Infrastructure and Skills Committee, and the Climate Change, Environment and Rural Affairs Committee. Together, the work of these committees gives me a cross-cutting overview of the significance of Wales’s blue economy.

During the last Assembly, there was an excellent report by the Enterprise and Business Committee into the potential of the maritime economy in Wales. Its contents powerfully support today’s motion. As the report states, there is considerable potential for Wales, both to grow its maritime economy, which we know is already valued at over £2 billion, and to be a leader for the blue economy in our corner of the globe. To quote the report:

The water that surrounds Wales on three sides is a natural resource that could be as valuable for Wales future, as the coal beneath our valleys was in centuries past. But harnessing that potential will not happen by accident. It will need strategic thinking and leadership from the Welsh Government, and coordinated action across departments to deliver the vision.’

A strong and ambitious marine plan is vital to achieving this. But that co-ordinated action cannot just take place within Welsh Government. It must also occur across and between Governments and countries. For example, tackling the barriers facing the development of the ocean energy sector necessitates a more coordinated approach throughout the Atlantic area. We must also work to continue to work with European bodies, such as the Conference of Peripheral and Maritime Regions, and this work must feature as a key part of any Brexit negotiation.

This also makes sure we don’t miss the opportunity to take a co-ordinated approach to our stewardship of the waters around us. As part of this, we also need to develop holistic data collection projects, so that we can monitor changes in our maritime environment effectively. As the motion notes, renewable marine energy is one area where Wales really can become a world leader. We can do this by adopting foundational economic principles, and making the most of the resource all around us. Foundational principles of long-term economic stability can contribute to tackling the vulnerability of coastal communities to economic change.

But the benefit of developing marine renewable energy sources extends beyond this. For example, plans for a network of six tidal lagoons around the UK, with a pathfinder at Swansea, could involve a £40 billion investment. This would see the creation of 6,500 long-term jobs, and could generate nearly £3 billion of gross value added annually. To maximise the benefits of the sector, we need a proactive engagement of local Welsh firms within the supply chain.