Bioeconomy: Different Countries, Different Strategies, Multiple Benefits.

The steering and operative aspects and components of bioeconomy in different countries that may have a determining impact on the development of the regions and on the kinds of technologies and industries coming up in the short, medium and long terms have been discussed. The flavour of bioeconomy directions and their drivers as conceived in different regions have been touched upon in monetary terms over the future years, based on available data and information. The emphasis for future development in the biotech sectors for pushing up bioeconomy is different in different regions. The stress on mastering biotechnological capabilities is also dissimilar. The developments in bioeconomy plans and programmes in the European Union, UK, USA, China, India, Japan, Brazil, ASEAN countries, South Korea and Russia have been profiled. Australian plans and programmes in synthetic biology have been included. Harnessing bioeconomy is anticipated to enable more recycling of wastes and promotion of environmental sustainability. Advancement of bioeconomy is anticipated to elevate the health, longevity and living standards of people. Contributions to global GDP are anticipated to be substantial from bioeconomy activities; the horizons of more effective newer biotechnologies are appearing fast in certain bioeconomy countries. Advancement in wealth creation by developing products involving the manipulation of genes, cell lines, and natural life forms has strong societal acceptance issues. The elements of ethics and social acceptance issues, including rights to choose and legal provisions, need to be worked upon through united global forums on a precautionary principle for an undisputed sound resolution. [ABSTRACT FROM AUTHOR]