‘Forex reserve could hit $200 billion if maritime sector is properly used’

Bangladesh's foreign exchange reserve would hit $200 billion dollars, if the country can properly utilise its maritime sector, State Minister for Shipping Khalid Mahmud Chowdhury said today.

The state minister made the comment as the chief guest of a programme at International Maritime Academy at Chotojoynagar in Gazipur.

Bangladesh earns a lot of foreign exchange from the maritime sector and the sector still has ​​immense potential, he said.

Bangladeshi marine cadets earn a huge amount of foreign currency by serving domestic and foreign ships, Chowdhury said.

By 2041, the maritime sector can be the main tool of the economy to create a developed and smart Bangladesh, he hoped.

Father of the Nation Bangabandhu Sheikh Mujibur Rahman framed the Territorial Zone and Maritime Boundary Act and the government has been working for the development of the sector following that Act, he said.

Previously there was only one marine academy in Chattogram to train marine cadets, Chowdhury said.

Under proper guidance of Prime Minister Sheikh Hasina, four more new marine academies have been constructed in Rangpur, Pabna, Sylhet and Barishal, he said.

Cadets trained up in these academies are enriching Bangladesh's marine fleet and they are earning foreign exchange every year which is contributing to the economy, he said.

Lawmaker Meher Afroz Chumki, International Maritime Academy Managing Director Emdadul Haque Chowdhury and Academy Commandant Zaki Ahad along with faculty members, cadets were also present at the programme.