Introduction. Currently, the States and regions around the world face with several economic, environmental, social challenges etc. The increase in the demand for power supply, for primary resources (agriculture, forestry and fishing), for industrial products and services, sets a significant pressure on the ecosystems sustainability. One of the solutions to support the sustainable development process may be the transition towards the bio-economy, innovative sector focused on the production of biotechnologies and biomass. The bio-economy is the field comprising all economic activities related to the use of biological renewable resources.
Aim of the study. The goal of this paper is to draw the attention on the importance of bio-economy in the effectiveness of the use of natural resources and in the current context of obvious and irreversible climate changes. Moreover, lately, the concept of bio-economy gained the attention of the scientific and political environments, both in Europe and at worldwide level. We can already talk in Europe of a general transition towards the bio-economical field.
Keywords: Bio-economy, sustainable development, innovation, renewable resources management
Jel Classification: Q01, Q51, Q57