Places in News : Sharm el-Sheikh

Places in News : Sharm el-Sheikh

  • Context:  

  • Sharm el-Sheikh, a resort town at the southern tip of Egypt's Sinai Peninsula, has become a key location for high-profile international conferences, including the ongoing talks to end the conflict in Gaza.  

  • Its importance stems from both its strategic geography and its development as a major hospitality center. 

  • Strategic Location 

  • Gulf of Aqaba:  

  • Sharm el-Sheikh is situated on a promontory that overlooks the Straits of Tiran, which is at the mouth of the Gulf of Aqaba. 

  • Access to the Red Sea:  

  • The Straits of Tiran provide Israel's only direct maritime access to the Red Sea, making the area strategically vital. 

  • Historical Significance:  

  • Due to its location, it has historically served as a major port and naval base for the Egyptian Navy.  

  • It was occupied by Israel during the Suez Crisis of 1956 and again from 1967 until it was returned to Egypt in 1982 

  • Development as a Diplomatic Venue 

  • Following its return to Egypt in 1982, then-President Hosni Mubarak designated it "The City of Peace" and promoted investment that transformed it into a regional hospitality hub. 

  • Major International Conferences: Its thriving tourism and hospitality industry make it an ideal location for international summits.  

  • It has hosted several key events that include: 

  • Israel-Palestine Peace talks (1999, 2000, 2005) 

  • World Economic Forum on the Middle East & North Africa (2006, 2008, 2014) 

  • The first EU-Arab League Summit (2019) 

  • COP27 Climate Conference (2022) 

  1. NITI Aayog Report: Harnessing Deep-Sea and Offshore Fisheries 

  • Context: 

  • NITI Aayog has released a report titled "India's Blue Economy: Strategy for Harnessing Deep-Sea and Offshore Fisheries".  

  • The report outlines a comprehensive framework to responsibly utilize India's vast marine resources. 

  • It aims to make the nation a global leader in sustainable deep-sea fisheries.  

  • Significance of India's Blue Economy 

  • The fisheries sector is a vital component of India's economy, with immense untapped potential in its deep-sea and offshore waters. 

  • Economic Significance  

  • India possesses an Exclusive Economic Zone (EEZ) of over 2 million sq. km and a coastline of 11,098 km across nine coastal States and four Union Territories. 

  • India is the second-largest fish-producing country contributing to 8% of the world's total production 

  • The sector is a major contributor to exports, with fishery products earning ₹60,523 crore in the fiscal year 2023-24 

  • Livelihood and Employment 

  • The fisheries sector provides livelihoods for nearly 30 million people in India 

  • Harnessing deep-sea resources can generate further employment opportunities and reduce fishing pressure on crowded coastal areas 

  • Untapped Potential 

  • Despite being a major producer, India's deep-sea fishery resources beyond the continental shelf remain largely unexploited 

  • The EEZ has an estimated potential yield of 7.16 million tonnes, which includes both conventional and non-conventional resources.  

  • Proposed Strategy 

  • The report outlines a science-based and ecologically sustainable approach, identifying six key policy interventions: 

  • Overhauling policies and regulations 

  • Strengthening institutional capacity 

  • Modernizing fishing fleets and infrastructure 

  • Promoting sustainable fisheries management 

  • Mobilizing resources and financing 

  • Enhancing community participation and partnerships 

  • The strategy is proposed to be implemented in three phases, aiming for global leadership in sustainable deep-sea fisheries from 2033 onwards.