Bangladesh is willing to work and move together with a partnership for blue economy to secure sustainable development among the coastal states, Foreign Minister AH Mahmood Ali said yesterday.
“Blue economy must be inclusive and people-centric,” he said, adding that effective governance should be established in maritime and its-related sectors.
The minister spoke at the closing session of a two-day international workshop on blue economy, at Sonargaon Hotel in Dhaka yesterday.
Collaborative efforts should be taken in research, observation and surveillance, and the outcomes should be shared, he said.
“Such collaboration among countries must take place based on certain universal principles of engagement: mutual trust, respect, mutual benefits and equitable sharing of benefits.” Bangladesh is at a nascent stage of development in regards to assessment of blue economy, he said.
The minister laid emphasis on the space for further investment and exploration of marine resources, overcoming the challenges ahead.
“This relates to regulation, legislation, plans, institutional frameworks and capacity building in academic and research institutions as well as regulatory bodies or mechanisms.”
He said Bangladesh is aware of the varied levels of engagement across countries. The government needs to observe and more importantly steer or create policy frameworks to attract critical private investment for blue economy, he said.
“Financing, including innovative financing, to secure blue growth has to be facilitated.”
The minister also said creating robust maritime domain awareness among people, communities, policymakers and executives is essential.
Some 32 representatives from 20 countries, including global experts on blue economy, attended the workshop and shared their experiences and ideas. Foreign Secretary Md Shahidul Haque was also present.