Considering Bangladesh's now expanded maritime boundary in the Bay of Bengal, experts have called for exploring the 'Blue Economy'. They say it could take the country's Gross Domestic Product (GDP) to a staggering 10 per cent growth in the next decade. A bright prospect in the country's marine resource-based Blue Economy has emerged following settlement of maritime boundary disputes with neighbouring Myanmar and India. What Bangladesh needs now is to properly extract marine resources, protect these resources and thus utilise those in a sustainable manner. The marine resources include oil and gas alongside fisheries and other varieties of aquatic resources.
To ensure proper exploration of marine resources, besides ensuring proper coordination in this sector, the government formed a Blue Economy Cell last year. A government high official, who is also the chief of this cell, maintains that this Blue Economy Cell has been coordinating the activities of 17 ministries and divisions concerned. The meeting of this cell is held every two months. According to him, around 5.0 per cent of GDP needs to be added from the sea and marine resources to the national economy to become a developed economy. He added that the future of Bangladesh's marine-based economy has a bright potential and the government is very much sincere in this regard.
The Chairman of Department of Oceanography of the University of Dhaka Professor Dr Kawser Ahmed said that 'the Territorial Water and Maritime Zones Act' was first enacted in 1974. He also echoed with the Blue Economy cell chief saying that Bangladesh needs to add around 5.0 per cent of GDP from the Blue Economy to the national economy to attain the Sustainable Development Goals (SDGs). But the need for properly utilising marine resources without harming the environment of the sea is to be underscored. It also needs to be stressed for ensuring maritime safety and management, promoting eco-friendly tourism in the sea, generating power from the sea waves and air and extracting minerals from the coastal areas.
Besides, developing new lands from shallow sea, extracting fisheries resources and creating skilled manpower for exploring marine resources have been suggested. Bangladesh owns more than 1,18,813 square kilometres of sea territory. Article 2(1) of the United Nations Convention on the Law of the Sea 1982, extends to a zone called 'Territorial Sea' up to a maximum limit of 12 nautical miles. Under the same convention, Article 55 grants the sovereign right to enjoy 200 nautical miles 'Exclusive Economic Zone' (EEZ), including its seabed resources from the baseline from which the breadth of the territorial sea is measured.
However, what Bangladesh needs now is to suitably develop the required human resources to tap the country's potentially rich Blue Economy. The South Asian country is not being able to utilise its potential marine resources successfully so far because there is an acute shortage of trained human resources for the purpose. Oceanographers suggest that the oceans of the world are an important source of abundant food, energy and minerals for the use of mankind. Though we well understand the necessity of sufficiently developing marine professionals of the country, the necessity of developing adequately trained human resources in all the related fields of the country's economy can hardly be overemphasisd for the overall economic advancement of the country with desired GDP growth rate above seven per cent per annum.
Bangladesh's expressed desire is to achieve the status of a middle income nation within the shortest possible time. It can reach at the earliest an even greater destination if the prospect of the country's Blue Economy is properly be harnessed. But the thrust should be given now for developing experts and technicians to exploit our marine resources in the Bay of Bengal. It is necessary for us to keep in mind that time is a great factor for advancing our economy in this competitive world order. Bangladesh can take assistance, in this regard, from Norway, the world's leading maritime nation that has its maritime strategy known as 'blue growth for a green future'. The Norwegian government, under this policy, is trying to achieve the greatest value creation possible in the country's economy within a sustainable framework.
Following Norway, the South Asian country can give more financial support for marine research and higher marine education in the area. The potential for developing a green Bangladesh shipping industry is great. For this purpose Bangladesh can seek expert assistance from Norway as it takes help from the Netherlands for materialising its Delta Plan.
The writer is a retired Professor of Economics, BCS General Education Cadre.
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