Blue Economy in Bangladesh

Blue economy is the overall contribution of the oceans to economics, the need to address the environmental and ecological sustainability of the oceans and the ocean economy as a growth opportunity for both developed and developing countries.

Present Situation of Blue Economy in Bangladesh
As a coastal country, for Bangladesh, the blue economy is the most salient factor contributing to economic development. Bangladesh can claim to be a country of blue economy. Because through the settlement of maritime disputes with Myanmar and India, Bangladesh gained a huge area in the Bay of Bengal. Now, from the settlement of the suit just opened a big opportunity for our country, different discussions are going on with emphasis on farming the strategies of how sustainable development may be acquired through utilizing the potential of our new sea economy or blue economy. Its activities are associated with the coastal zones, ports, and also sea based activities.

Sea Based Blue Economy
Our country can take a lot of advantages of a sea based blue economy. Because the blue economy basically means to the ocean economy. Like gas and oil exploration, shipping, fishing, salt collecting, tourism and so on.

Tourism
Bangladesh has its ocean attraction. People from other countries come to visit our sea. In spite of, beaches are not that much sensible with regard to protecting marine environment. If authority takes enough responsibility, then people will be more attracted to visit these places. Since our coastline line has a relatively good view we can make use of it but we need to be more careful with rules on how to keep clean cause if we don’t in future we are going to end up. Not only losing this but also ruining the country.

Gas and Oil Exploration
There will be a huge breakthrough to enrich our economy and generate economic growth in real terms.The primary assessment indicates a few trillion gas in a few zones available within our premises. In fact, a profit sharing contract will be a huge challenge for Bangladesh at this stage.

Fishing
Regarding the fisheries sector, in the Bay of Bengal, about 800 million metric tons of fish are caught every year. Our fisherman will be helpful with financial support.

Shipping
Recently, in Bangladesh, around 2600 ships arrive every year in the ports of Chittagong and Mongla. And earning from this sector must increase significantly. There will be many shipping agencies to operate and activate with freight forwarding resulting in huge growth in our banking and insurance sectors as well.

Salt collecting
If Bangladesh will open an extended opportunity to export salt, it will get a lot of foreign currency. Which will help to increase our economy. And it can be a spirit in our economy.

Creating jobs
Blue economy of Bangladesh can create jobs for plenty of people. They can earn for themselves and also for the country. The range of unemployment people will decrease day by day.

Necessity of blue economy
Blue economy plays a vital role in our economy. To live on this earth, we have to take breath. And the ocean is responsible for the oxygen in every breath. It helps to change the climate slowly. The blue economy advocates for a new economy. We should repair our broken economy and create a new one. The world has been racked by food, fuel, environmental, financial and economic crises. Blue economy is able to deal systematically with any kind of  challenge.

Future hope of blue economy in Bangladesh
It is high time to take proper responsibility for getting a good result in the blue economy. If we can not maintain properly, then we never go ahead. We must have to monitor everything at sea. We have to utilize the sea properly. Blue economy can remove the unemployment problem from Bangladesh. By a blue economy, we will get a lot of advantages. We expect that the Blue Economy will create a new horizon of hopes and aspirations to turn Bangladesh into a developed country in the near future.

So, if we are not able to maintain it,  we will lose the blessing of the blue economy from our socio-economy.