Dynamics of aquaculture governance

Abstract Aquaculture is a growing industry with an annual growth rate that is far superior to the population growth rate. Most production occurs in lower‐ and middle‐income countries, and therefore, they can improve the efficiency and modernize the production systems to increase exports to earn foreign exchange earnings for economic and social development. The institutional arrangements should be part of the mechanisms that ensure sustainable aquaculture growth, through the participation of all stakeholders. Sustainability is possible with good and dynamic governance through which the industry embraces the basic principles of governance, equity, accountability, efficiency, and predictability. Over the past decade, several countries made changes in governance and implemented regulations through their action plans to improve aquaculture productivity, and stakeholders profited from the changes made along the value chain. For the producers to benefit from the value‐added products, they complied with the regulations imposed by the importing countries, international regulatory bodies, or their own consumers. Standards increased, and the implementation of certification resulted in changes in the industrial structure. These standards, which inflict regulatory cost on producers, stimulated an improvement in productivity and product quality. However, during the last decade, production growth declined from 5.8% from 2001 to 2010 to 4.5% from 2011 to 2018, resulting in the elusive realization of the potential of meeting the sustainable development targets. There is a need for a paradigm shift that encourages small‐scale producers to engage in sustainable intensive aquaculture. The challenge is, therefore, to move toward production intensification and expansion, and the harmonization of national and international regulations to ensure the supply of safe and adequate fish to consumers, while maintaining a sustainable production system, and at the same time conserving the environment and maintaining social and economic stability. With good governance and political will, the social, economic, and environmental objectives for attaining the Sustainable Development Goals during the period 2020–2030 are possible if governments integrate sustainable aquaculture developments within an expanded aquatic and terrestrial food security policy framework using systems thinking and open innovation approaches.