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Opening the Our Oceans Conference in Malta today, EU High Representative Federica Mogherini announced EUR 560 million of EU funds for 36 concrete actions to protect and ensure the security of the world's oceans. In our globalised world, she said, 90 per cent of world trade is seaborne and millions of jobs and livelihoods depend on the oceans, which are a common good and must be managed through international cooperation. Our oceans are in danger. By 2050 they could contain more plastic than fish. At the same time, the ocean is becoming a security threat, with rising sea levels forcing millions of people to migrate, and warmer oceans leading to more devastating hurricanes. There is an urgent and inescapable need for international cooperation on maritime issues, which the Our Oceans Conference will address, and for concrete actions such as those announced today by the EU High Representative.