The Regional Organization for Conservation of the Environment of the Red Sea and Gulf of Aden is starting execution of a project on Economic Valuation of the Coastal and Marine Environment of the Red Sea and Gulf of Ade in collaboration with the United Nations Environment Program, Office of West Asia (UNEP ROWA). The project involves production of a manual of economic valuation guidelines of the coastal and marine environmental resources in the Red Sea and Gulf f Aden. The guidelines will be simple and easy to use by all concerned parties, environment practitioners and decision makers. It will provide a tool that helps in effective utilization of resources and identification of priorities in development and investment on proper environmental economic principles. It will also help in fair assessment of the value of damage in the case of incidents when the marine or coastal environment or habitats and living organisms are affected.