Identification of Maritime Technology Development Mechanisms in the Context of Latvian Smart Specialisation and Blue Growth

Recognising the fact that economic realities change the world faster than global politics, in 2010 the European Commission approved the strategy for smart, sustainable and inclusive growth, called EUROPE 2020, in order to promote greater economic independence and achieve a more sustainable future. The strategy puts forward three mutually reinforcing priorities: (P1) Smart Growth: developing an economy based on knowledge and innovation; (P2) Sustainable Growth: Promoting a more resource efficient, greener and more competitive economy; (P3) Inclusive Growth: Promoting a high-employment economy delivering social and territorial cohesion. In the context of EUROPE 2020, the Smart Specialisation Strategy in Latvia (RIS3) has been set up and introduced as a strategic document for the development of support mechanisms of high value-added economic growth, including the maritime technology sector. The present study explores the mechanisms for the introduction of Blue Growth and RIS3 Strategies, which should be used to develop the maritime technology industry by assessing the efficiency of these mechanisms. Thus, the study addresses the issues of the implementation of modern technologies in the coastal municipalities and planning regions of Latvia.