Bioeconomy key to future, says OECD report

Biotechnology has the power to improve human health, address environmental challenges and change the way the world does business,  according to a new Organization for Economic Cooperation and Development  report, The Bioeconomy to 2030: Designing a Policy Agenda, examines the  role of biotechnology in the global economy over the next two decades  and outlines policies that could maximize its benefits.

Already biotech-based drugs provide greater health advantages than their  traditional counterparts. By 2015 virtually all new drugs, about half of  global production of the world's major crops and an increasing number of  everyday products (eg, food additives, plastics, fuels and detergents)  will be produced using biotechnology. New crop varieties under  development could increase global food production while requiring less  water, pesticides and fertilizers.

Biotech could produce 2.7% of GDP by 2030