Business

Bangladesh co-hosts seminar on blue economy in Lisbon


Published : 01 Jul 2022 08:26 PM

Bangladesh along with some other countries have co-hosted a seminar on the blue economy in Lisbon, Portuguese on the sidelines of the UN Ocean Conference.

International Seabed Authority (ISA) organised the side event titled "Fostering international and regional cooperation in support of the sustainable development of the blue economy in LDCs, LLDCs and SIDS" on Wednesday, a press release said in Dhaka on Thursday, reports BSS.

Foreign Ministry's Secretary of the Maritime Affairs Unit Rear Admiral (Retd) Md Khurshed Alam co-chaired the panel discussions.

Vice-President of Tanzania, Foreign and Tourism Minister of Tonga, Minister of International Development of Norway, other ministers, high representatives and experts from the member states also attended the event.

Khurshed Alam said that oceans and seas are the potential and versatile resource frontiers for humankind, which remained under-explored and unexploited. He also emphasized the need for fostering international and regional cooperation to develop strategies in support of the sustainable development of the blue economy in LDCs, LLDCs and SIDS. He elaborated that states and organizations in developing regions may not have the capacity to develop and manage their own shared marine resources, as they lack the necessary information, expertise or the financial capacity to follow with planning and operations. In this regard, he said external assistance can be valuable and sometimes essential in establishing shared international marine resources arrangements. The seminar concluded with commitments for forging wider regional and international cooperation, devising mechanisms for technology transfer and financing the blue economy.