Bioprospecting agreements between pharmaceutical companies and local governments involving fees and the sharing of royalties from new drugs that might be discovered are new practices that recognize the of biological diversity.

economic value

Explanation:  

With the development of genetic manipulation technology, we can utilize biological diversity much more than before.  

Many organisms have traits that can be harvested and turned into a product with high economic value, which make the government start to protect it. In fact, the first antibiotic is produced by a fungus.

Many countries with high biological diversity don't have enough advanced technology to utilize them. In this case, a bio prospecting agreement can benefit both the government and the company.

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