Future Importance of Maritime Activities in Bangladesh

Blue Economy is a concept of economic growth through the sustainable utilization of ocean resources with technological inputs to improve livelihoods and meet the growing demands for jobs without hampering the health of the ocean ecosystem. This paper offers an overview of current maritime key activities, major trends and scenarios, future blue economy development activities with economic and social importance, ecological importance and blue economy policy framework. This paper also focuses on the major constraints and challenges. The current maritime key activities include extraction of living and non-living resources, land based activities, trades and transportation, shipbuilding and ship breaking, tourism and recreation, man-made structures, energy production and, research and survey. The trend data show that the total fish landing and total export income from fisheries has increased over time. However, data on mangrove revenue suggest that in recent years, current revenues from this forest are comparatively less than they were in the 1980s and the 1990s. To expand its Blue Economy, Bangladesh must focus on marine fisheries, non-traditional species, marine biotechnology, oil gas and mineral mining, renewable energy, marine trade and transport, marine tourism and marine spatial planning. However, this paper finds that lack of implementation and enforcement, of management measures, limited planning and coordination are hinder the development of Blue Economic in Bangladesh. Thus a strategic management process integrating multiple stakeholders urgently needed for a sustainable Blue Economy maritime territory of Bangladesh

Policy Interventions for the Development of the Blue Economy in Bangladesh

Between 2012 and 2014, disputes over maritime boundary with Myanmar and India were favorably settled for Bangladesh, resulting in the expansion of its territorial waters of more than 30% and the country received entitlement to 118,813 km2 in the Bay of Bengal. This achievement offers a wide range of new economic opportunities for jobs & growth around marine and coastal sectors such as marine fisheries, marine aquaculture, tourism, exploitation of natural resources, trade and energy. This created new opportunities to exploited the untapped potential of these waters. The challenge will be to develop smart and sustainable solutions to meet the economics needs of Bangladesh in this area. This paper presents the policy interventions that will contribute to impulse the development of the Blue Economy in Bangladesh. This was accomplished through an analysis of the institutional, commercial and environmental context of a set of selected sectors and the identification of the major areas of policy intervention in a near future. The analysis reflects therefore the point of view of all key stakeholders including practitioners, entrepreneurs, researchers, academics and representatives of the civil society

Toward a Blue Economy : A Pathway for Sustainable Growth in Bangladesh

This report aims to synthesize the current theory and practice of the blue economy concept to govern economic activity linked to the ocean, and to provide a framework for the Government of Bangladesh to analyze its potential. With the peaceful resolution of maritime boundary disputes with its neighbors in 2012 and 2014, the Government has recently defined the ocean space under its jurisdiction and prioritized its use as a key source of future economic growth. The Government has prioritized the use of these spaces as a key source of future growth. However, a number of questions remain in embarking on a policy planning process to achieve Bangladesh’s blue economy aspirations, including measures of the current economic uses of the ocean space, the identification of clear targets for sustainable growth of the use of this space, and a policy pathway to get there. Described as an economic frontier, the term “ocean economy” applies collectively to ocean based industry activities and the assets, goods, and services of marine ecosystems. Ocean ecosystems provide the natural capital inputs that combine with produced and human capital to underpin the ocean economy.The concept of a “blue economy” emerged in 2012 as countries around the world have grappled with the twin trends of accelerating growth in the ocean economy and change in the underlying ecosystems. A “blue economy” aims for a balance between economic opportunities and the environmental limitations of using the ocean to generate wealth. Few documents exist to describe how countries can transition their ocean economies toward a blue economy, despite much discussion since 2012. This report fills that gap by offering a conceptual framework to guide policy-makers in Bangladesh in proposing specific reforms, by illustrating the economic activities of the ocean economy together with the underlying natural capital, as well as other types of capital. The framework suggests entry points for policy reforms to change the flow of inputs from ocean ecosystems to the ocean economy over time, or conversely to reduce outputs from economic activity (such as pollution) that may impact the functioning of ocean ecosystems. The report also synthesizes principles that may help guide such policy reforms. Most importantly, the report summarizes the information base needed for the Government of Bangladesh to set realistic targets for a blue economy development pathway and monitor progress

Initial Measures of the Economic Activity Linked to Bangladesh’s Ocean Space, and Implications for the Country’s Blue Economy Policy Objectives

The Government of Bangladesh resolved its maritime boundaries in 2014, resulting in jurisdiction over ocean space equivalent to 80 percent of the country’s terrestrial area. To encourage the development of this area and the resources it contains, the Government embraced the concept of a “blue economy” in its most recent development plan, as a broad label for all ocean-linked economic activities that are environmentally and socially sustainable. To support the Government’s effort to translate its blue economy aspirations into operational policies, an accounting exercise was conducted to provide initial measures of Bangladesh’s ocean-linked economic activity, as a baseline by which to set targets. The results suggest the contribution of ocean-linked economic activity in Bangladesh in 2014-2015 was just over 3% of national gross value added, derived relatively evenly from tourism and recreation, capture fisheries and aquaculture, transport and energy. The Government’s intention to design blue economy policies will need to be supported by extending the analysis in this study to a full ocean economy satellite account, eventually adding measures of the economic value of marine ecosystem services and the costs of environmental degradation, as well as the status of the underlying stocks of natural capital