The EU Commissioner for Maritime Affairs has predicted that hundreds of new jobs will be created and hundreds of millions of euros earned in Ireland from the development of the marine industry.
Joe Borg said at a conference in Dublin to develop European maritime policy that Ireland was leading Europe in marine research and development and would reap huge benefits.
He urged full public support for the development of the marine sector which he said presented a great opportunity for Ireland.
Discussions on a new maritime policy for Europe are being held at the meeting organised by the European Commission.
The Chief Executive of the State research organisation, the Marine Institute, has forecast that Ireland could add €1.5bn to the national economy within seven years from maritime development.
Dr Peter Heffernan says it is a challenge, but it is possible to achieve.
The European Union is seeking the views of member nations about future European maritime policy. Effectively, the EU is calling on Ireland's acknowledged expertise in marine research.
The Marine Institute has already drawn up Ireland's national policy called Sea Change. It is based on the results of its exploration of the 220m acres of Irish land which is undersea and has huge potential.
Dr Heffernan says it is time to realise that potential, discovering new food, medical and other resources in the sea.
