(Seychelles News Agency) - Seychelles will become the first country outside of Europe to host the BlueInvest Africa forum, an event being held in March to boost the African Union-European Union partnership in the area of the blue economy.

BlueInvest Africa targets African start-up business companies that are already operating in the the blue economy. It also targets micro- and medium-sized businesses not yet officially established but that are pursuing an innovative idea for commercial development within the African market.

The BlueInvest Africa will be held March 15-16 with Seychelles' President Wavel Ramkalawan as host in collaboration with the European Union.

The objective of the event is to showcase the African potential, foster entrepreneurship and participation of the private sector of the blue economy in Africa and promote innovative sustainable solutions.

The announcement was made by the Minister for Fisheries and the Blue Economy, Jean-Francois Ferrari, following the closure of the 8th EU-Seychelles Political Dialogue, held recently in Seychelles.

Ferrari said that this is an exciting moment for Seychelles and the government is proud that the European Union has chosen the island nation to host the event.

"We will put the experience that we have gathered to the service of Africa, in partnership with the EU. Marine biotechnology, aquaculture value addition, and tourism just to name a few, are products that we have started putting in place in Seychelles and we are expecting to share them with other African countries, and at the same time encourage investors from Europe to develop these facilities," said Ferrari

"For the longest time, the Blue Economy has been talked about a lot, and today we want it to become a reality in our lives. Seychelles is ready to move into the implementation phase of the blue economy. What are the practical applications that it can bring in terms of development, creation of jobs, new ventures, and new products that can be developed? We want to do this together with Europe because a lot of investors are in Europe and Africa has products," he said.

Seychelles, an archipelago in the western Indian Ocean, will welcome 150 participants to its shores while others will attend virtually from Africa and Europe.  During the event, investors and entrepreneurs will be able to generate business contacts and opportunities, discover business projects from the field, exchange best practices and ideas, and develop network of potential partners.

The two-day international hybrid event will consist of pitching sessions, site visits to Seychelles' blue economy projects, business to business meetings, exhibitions showcasing small-scale African projects and networking moments between participants which will enable them to meet a maximum of potential business partners.