Iceland takes the leading role in the "Nordic Bioeconomy Initiative". A strategic paper entitled "Future Opportunities for Bioeconomy in the Western Nordic Countries" has already been drawn up and was published in 2014. In 2015, a "Nordic Bioeconomy Panel" was set up. The goal: the development of a "Nordic bioeconomy strategy". The main areas of focus are biotechnology and the blue bioeconomy – the aim of which is to tap and exploit marine bioresources.