This chapter compares the blue economic policies in Canada and Sri Lanka. The specific objective is to identify the extent to which the policy frameworks in both countries focus on marine biodiversity conservation, climate adaptation, and enhancing the livelihoods of the coastal communities. The study adopts level 2 of the New Institutional Economics (NIE) theory as the theoretical framework. A qualitative content analysis was conducted to generate code systems from the selected words and phrases in 32 government documents in Canada and Sri Lanka, out of the initial 55 documents referred to, using Scott’s 4-step method. The results show that the policy frameworks of both Canada and Sri Lanka comprise statements related to biodiversity conservation, climate adaptation, and enhancing the livelihoods of coastal communities. However, key barriers identified in Canada include difficulty in accessing government funding, a lack of social license, and challenges in attracting new workers. In the Sri Lankan context, policy implementations are fragmented across ministries and agencies, and there is a limited amount of marine research data. The chapter concludes with policy recommendations and a comparative matrix, offering practical insights for enhancing blue economy governance across diverse contexts.