The settlement of maritime disputes with Myanmar and India way back in 2013 and 2014, though remarkable for Bangladesh with the establishment of its right to sea resources in the hugely expanded maritime zones, is yet to see any noticeable progress in setting out a work plan in that direction. Clearly, what the international court's verdict implied was a horizon waiting to be explored and exploited with well planned policies and matching actions. Nearly a decade later, progress in exploring and exploiting these resources remains elusive. The promise of a "blue economy" is yet to materialise into actionable policies and programmes.
Up until now, there has not been any significant move forward except for a small 'cell' set up under the Energy Division of the government. The cell -- Blue Economy Cell (BEC) -- was set up on a temporary basis under the Energy Division, according to reports. The BEC remains a small organ headed by a director general with only a few officials and employees appointed on a temporary basis.
Terming it a frustrating situation, energy experts have said that this is due to the government's lack of interest in exploration of resources including oil, gas and fisheries in the bay. They stressed the need for multi-client seismic survey in offshore areas. Without acquiring seismic data, according to them, it is impossible to make any assessment of our share of the resources in the Bay of Bengal.
It may be recalled that Bangladesh got 19,467 square kilometres out of the 25,602 sq km disputed area from the Indian claimed area in the Bay of Bengal. In addition, the country sustained a claim to 200 nautical miles for exclusive economic zone and territorial rights in the Bay against Myanmar's claim. The then government reportedly formed a 25-member 'Coordination Committee on Sea Resources Exploration and Fair Management' around six years ago for taking up strategic planning in this regard. The committee, comprising top government officials and representatives from relevant organisations, was supposed to sit every three months, but it is not known whether it drafted any framework for strategies. On the other hand, the BEC, too, could not make any worthwhile move due mainly to manpower constraints.
Of late, there are talks of setting up a blue economy authority to deal with the massive development activities required in this regard in a planned way. Experts opine that moving ahead methodically and meaningfully could generate businesses worth $40 billion in the coming days from untapped sea resources. Globally, according to experts, blue economy has resources worth $24 trillion, but so far only around $3.0 trillion worth of resources has been utilised.
Ocean economy is an integral part of today's development paradigm, emphasising greener and more sustainable and inclusive economic development paths consistent with the 2030 Agenda for Sustainable Development and the Sustainable Development Goals (SDGs), especially Goal 14 (conservation and sustainable use of oceans, seas and marine resources for sustainable development).
The need for a well-empowered authority for methodical exploration of the sea resources cannot be overemphasised. Experts strongly support the idea because besides putting in place a general framework of activities including implementation and monitoring, a high level body such as the blue economy authority is the appropriate agency to specifically outline proper business modules for investors in a planned way. Many sectors of the economy can immensely benefit from the marine resources. These include fisheries, mineral resources, pharmaceuticals, transportation, energy, foods, health and tourism etc. According to experts, the country's expanded sea area is almost 81 per cent of the entire mainland. The country has a total of 660 km-long sea boundary, but the fishing vessels cannot catch fish beyond 70 km. It means we've no access to almost 600 km. That's why fishing vessels from India and Myanmar often come to catch fishes from our territory. Not only that, our fishing net cannot go below 200 feet of water, whereas the high-valued fishes like Tuna and Swordfish are available in the deep water.
Establishment of a blue economy authority would not only address operational inefficiencies but also unlock substantial economic benefits while preserving marine ecosystems. Harnessing the blue economy's potential requires a long-term vision, robust institutional support, and a commitment to sustainable development.
In this connection, it may not be out of place to mention that the United Nations Conference on Trade and Development (UNCTAD) has initiated proactive measures through its Ocean Economy and Trade Strategy (OETS) project. This project supports developing countries in realising economic benefits from sustainable marine resource use. It aims to promote sustainable trade in ocean-based sectors by developing evidence-based, policy-coherent strategies and building national capacities to implement them. Several countries have already joined the OETS project, and Bangladesh should consider participating to leverage financial and technical assistance.
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