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Editorial

Tapping the potential of blue economy

Involve private sector to reinforce our maritime research and surveys


Bangladeshpost
Published : 07 Mar 2022 08:10 PM

It is good to note that the government has been taking required measures to leverage the potentials of the blue economy to further expedite the country's development. It needs no emphasising that we can make our economy more vibrant utilising the marine resources properly and the incumbent government is taking various measures to this end. 

Bangladesh reportedly has 1, 18,813 square kilometres of maritime area and more than 30 million people directly depend on oceanic economic activities like fisheries and commercial transportation. We have come to know that Bangladesh does not have adequate number of big ships to catch fish in the deep sea. Our fishermen are fishing near the coast in small boats or trawlers. This approach must be changed in no time. We need big ships to catch fishes efficiently, which will help fuel our export earnings.


The government should embark on a plan to 

involve private sector in its coastal development 

and management plan


There is no denying that the government has framed new strategies to harness the potential of blue economy addressing how and in what way the ocean-based industries such as shipping, fisheries, energy and minerals, seaports, tourism, and marine biotechnology can contribute to the country’s economic growth. However, Bangladesh has not been able to conduct adequate survey to learn and identify maritime resources. Hitherto we are lagging behind in exploiting our blue economy potential due to lack of technology and efficient manpower. 

There is an abundance of resources under the ocean that need to be tapped prudently. We must nurture what we have and in order to do that we need to learn and identify the amount of resources available in the sea. To this end, integrating new technology and conducting adequate and quality research has become very much pertinent. Private sector can play an important role in improving country’s maritime research and surveys. Hence, the government should embark on a plan to involve private sector in its coastal development and management plan. Bay of Bengal has long been contributing to Bangladesh’s economic growth and can serve us with a plenty of resources that can help the country ensure food security, eradicate poverty boost economic growth and generate sustainable as well as inclusive employments. 

But we need to leverage conservation and utilisation of marine and coastal eco-systems in an efficient manner. Needless to say, safe and environmentally sustainable extraction of sea resources will make a remarkable contribution to the wellbeing of our future generation.