Blue Economy
Prime Minister Sheikh Hasina yesterday underscored the marine-based economic activities and management of sea and its resources through “Blue Economy”, saying such activities could create new horizon for the development of a coastal country like Bangladesh.
She also emphasised the need for tapping the huge potentials of sea and sea resources through proper
management to ensure sustainable development.
The prime minister made the observations while inaugurating a two-day “International Workshop on Blue Economy” at a hotel in the capital.
Hasina said the marine-based economic activities through Blue Economy alongside the existing land-based development activities could further expedite the development of the coastal countries like Bangladesh and the developing coastal states.
“It is time-befitting in the present perspective to continue sustainable trend of Blue Economy using huge natural and mineral resources in and under the sea and the adjoining areas of the ocean.”
She also mentioned the unlimited role of sea resources in various economic activities including poverty alleviation, achieving self-sufficiency in food production, maintaining environmental balance and facing the adverse impacts of climate change.
The Prime Minister stressed creating skilled manpower to exploit the marine resources from within the country's huge sea boundary, saying that the nations utilizing the sea and its resources became more prosperous economically than others.
She mentioned that the Bay of Bengal could determine Bangladesh's future development and economic growth through expansion of international trade, use of marine mineral resources for long-term energy security, proper management of marine fish resources, and protection of bio-diversity and marine environment.
“The economy of Bangladesh is totally sea borne and with $130 billion GDP, Bangladesh's economy is the 44th in the world in terms of GDP,” she said.
Hasina said Bangladesh has a dearth of skilled manpower and proper technology for exploring marine resources although it has a huge stock of living and non-living resources available under the seabed and water column.
She also mentioned that as a coastal country, the interests of Bangladesh are associated with the sea, and the main obstacle to establishing rights there was unsettled sea boundary with India and Myanmar.
Hasina said it was her government that ratified the UN Convention on the Law of the Sea (UNCLOS) in 2001, creating huge opportunity for establishing Bangladesh's rights in the sea on the basis of international laws and regulations.
With continuous efforts of her government, she added, Bangladesh won the maritime boundary cases with India and Myanmar.
The prime minister said steps have been taken to strengthen Bangladesh Navy and Coast Guards to resist illegal use of animal and mineral resources in the exclusive economic zone as well as to keep international sea line open and safeguard the free movement of commercial ships.
The inaugural function was also addressed by Finance Minister AMA Muhith, Industries Minister Amir Hossain Amu, Shipping Minister Shajahan Khan, Forests and Environment Minister Anwar Hossain Manju and Assistant Director General of FAO Árni Mathiesen, among others.
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