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Bioeconomycomprises the parts of the economy that use renewable biological resources (plants, animals, micro-organisms, etc.) to replace fossil fuels, and produce food, animal feed, and other biobasedproducts. Its cross-cutting nature offers a unique opportunity to comprehensively address interconnected societal challenges such as food security, natural resource scarcity, fossil-resource dependence and climate change, while achieving sustainable economic development. As bioeconomyplays an increa singly important role in many countries and regions, it is crucial to establish guidelines that enable it to be developed in a sustainable way.

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