President Joko “Jokowi” Widodo officially opened the fifth Our Ocean Conference (OOC) 2018 at Nusa Dua Convention Center on Monday (Oct. 29).

HSH Prince Albert II is among several world leaders attending the conference in Bali.

The opening ceremony began with dance performances from various regions in Indonesia. A duet address was delivered by the Marine Affairs and Fisheries Minister Susi Pudjiastuti and Foreign Minister Retno LP Marsudi.

President Jokowi said that as a maritime nation, Indonesia is aware that its territory consists of a large areas of water. Much more than its land territory. “We are all aware that the Earth is covered vastly by the ocean than by land area. We know very well that the seas and oceans are our future. Our ocean, our future,” he said.

According to the President, the role of the ocean is huge, especially in supporting economic distribution. “More than 90 percent of total global trade volume is conducted through the
ocean. More than 40 percent of global trade value passes through the ocean. Sixty-one percent of the world’s crude oil is distributed through the ocean. The world’s maritime resources are valued at around US$ 24 trillion,” the President explained.