Bangladesh has rich marine biodiversity, which can contribute to a sustainable blue economy. An appropriate blue economy should ensure harmonious use of ocean resources, including human well-being, economic prosperity, environmental conservation, and social equity. The ocean is actually a storehouse of innumerable resources, combining both biotic and abiotic. Among the biotic resources, fisheries, aquaculture, marine plants, marine mammals, and microorganisms are primarily worth mentioning. Among the abiotic resources noted are minerals, energy resources, sand and gravel, salt, and fresh water.
These resources provide the sole support system for the marine ecosystem, which ultimately enhances the sustainability of livelihoods for millions of people all over the world. This also actively contributes to various industries and economies. To materialise this dream, the founding president of Bangladesh enacted the Territorial Waters and Maritime Zones Act 1974, a law that clearly recognised the potential of the blue economy. Fortunately, for a new nation like Bangladesh, it was really an innovative step, as this was enforced long ago, eight years before the declaration of the United Nations Convention on the Law of the Sea, 1982. Actually, this was the foundation for exploring the blue economy, or ocean economy, in Bangladesh.
The Centre for the Blue Economy says, ‘It is now a widely used term around the world with three related but distinct meanings: the overall contribution of the oceans to economies, the need to address the environmental and ecological sustainability of the oceans, and the ocean economy as a growth opportunity for both developed and developing countries.’
A United Nations representative recently defined the Blue Economy as an economy that ‘comprises a range of economic sectors and related policies that together determine whether the use of ocean resources is sustainable. An important challenge of the blue economy is to understand and better manage the many aspects of oceanic sustainability, ranging from sustainable fisheries to ecosystem health to preventing pollution.
Secondly, the blue economy challenges us to realise that the sustainable management of ocean resources will require collaboration across borders and sectors through a variety of partnerships and on a scale that has not been previously achieved. This is a tall order, particularly for Small Island Developing States and Least Developed Countries who face significant limitations.’ The UN notes that the blue economy will aid in achieving the UN Sustainable Development Goals. This is definitely significant for Bangladesh, as it is quickly approaching the deadline to become a mid-income country.
From the above definitions and explanations, it is understood that oceans carry huge amounts of resources for life on earth. We need to determine the appropriate technology or tool to usher in the best ways to make them potentially useful for the sustainable growth of our economy. Now the term sustainability needs to be fully comprehended so that the activities that our nation determines to explore the lives under the ocean might not go in vain for bearing a short-term benefit for us.
The economy of Bangladesh has long been dependent on the apparel industrial sector. The dependence on only a single source of income is not wise for a progressing nation like Bangladesh. So, in view of economists, it is high time for Bangladesh to search for alternative sources while the blue economy may be a fruitful venture. Accordingly, countries all over the world are working to get proper benefits from the ocean.
The blue economy is a sustainable economic concept that can unveil a wide horizon for the economic growth of Bangladesh. Gunter Pauli, in his book The Blue Economy: 10 Years, 100 Innovations, 100 Million Jobs, brought the Blue Economy concept into prominence. Along the same lines, Bangladesh has formulated policies related to ocean science in its 7th five-year plan. The Bangabandhu Sheikh Mujibur Rahman Maritime University Bangladesh, established in 2013 with the first ever department of marine science, is an important step towards achieving a sustainable blue economy.
The university has been continually working to provide quality education to its graduates in the areas of ocean science and marine biology. It is expected that the graduates completing their education from this university will work in all the relevant fields of the ocean to boost the sustainability of the blue economy in Bangladesh.
According to a World Bank report, the gross value added to Bangladesh in 2014–15 from the ocean economy was $6,192.98 million, which was around 3.33 per cent of the Bangladesh economy. Bangladesh’s current ocean economy is comprised largely of tourism and recreation (25 per cent), marine fisheries and aquaculture (22 per cent), transport (22 per cent), and offshore gas and oil extraction (19 per cent), shipbuilding and breaking (9 per cent), and minerals (3 per cent).
Although employment data in the Bangladeshi ocean economy is limited, it is estimated that more than 17 million people are employed in fisheries and aquaculture (full and part-time, including inland production), of which some 1.35 million work in marine capture fisheries and aquaculture. An estimated 6 million more people are employed in sea salt production and shipbreaking. Other reports estimate that 30 million people are dependent on the ocean economy in Bangladesh, or almost 20 per cent of the total population in 2015.
Despite this slow growth, Bangladesh has immense opportunities for a flourishing blue economy. Keeping this in mind, BSMRMU is going to organise an international seminar on sustainable blue growth in Bangladesh. It is expected that this timely seminar will generate ideas and essential knowledge related to the ocean economy and its sustainability. If we want to make an effective policy, we need to take some practical steps, and we expect that some guidelines for the policy will come from the discussions of the scholars and researchers at the seminar.
We also hope that the government will seriously consider the opinions of related experts and stakeholders. The government should focus on developing skilled human resources for maritime sectors, and when developing the skills, the government must prioritise maritime security, maritime pollution, preservation and protection of marine living and non-living resources, oceanographic and marine sciences research and transfer of technology, and the protection of the marine environment. Well-trained, skilled, and educated human resources are the driving force behind the development of an economy.