In order to maximize its potential, it will be critical to secure an increase in public and private funding to support interdisciplinary research. Some of the possibilities available through biotechnology include Providing greater benefits to both food processors and consumers by allowing better nutritional and medical value to be provided by food sources. Developing new pharmaceuticals and diagnostic tools for treating and diagnosing human health and disease conditions. Increasing agricultural productivity, enhancing the environment as well as improving food safety and quality. Replacing nonrenewable resources with renewable agriculturally based resources.
Agricultural development offers the best path to overall economic growth in low-income countries.
On average, for each dollar increase in farm output, developing countries spend 73 cents on new imports, including 17 cents on agricultural imports. U.S. regulatory oversight of biotechnology, where necessary, is through a risk-based system that focuses on the end product and its uses. The federal agencies with responsibility for regulating agriculture, the environment, and the food and drug supply have developed regulations and oversight processes consistent with existing statutory authorities. Another fundamental aspect of the U.S. regulatory oversight process is the commitment to public involvement in the decision making process. Lastly, the agencies have been open to adjusting their regulations based on experience with technology and scientific advancements.