The blue economy refers to the sustainable use and preservation of ocean resources for economic growth. It includes industries like fishing, aquaculture, tourism, biotechnology, and shipping. Bangladesh has significant potential for blue economic development given its location and resources. Key sectors include fisheries and aquaculture, natural resources and energy, and tourism. Realizing this potential will require reliable data, long and short-term planning, technology and skills, sustainable practices, and global partnerships.

1. Blue Economy
Blue economy is a term in economics relating to the exploitation,
preservation and regeneration of the marine environment. It is also
used to describe the sustainable use of marine resources. It covers
economic activities such as fishing, aquaculture, and tourism that
depend on healthy oceans and seas but also includes new industries
like biotechnology and maritime transport.
According to the World Bank, the blue economy is the "sustainable use
of ocean resources for economic growth, improved livelihoods, and
jobs while preserving the health of the ocean ecosystem."
A United Nations representative recently defined the Blue Economy as
an economy that "comprises a range of economic sectors and related

2. policies that together determine whether the use of ocean resources is
sustainable. An important challenge of the blue economy is to
understand and better manage the many aspects of oceanic
sustainability, ranging from sustainable fisheries to ecosystem health
to preventing pollution. Secondly, the blue economy challenges us to
realize that the sustainable management of ocean resources will
require collaboration across borders and sectors through a variety of
partnerships, and on a scale that has not been previously achieved.
Perspective of Blue Economy in Bangladesh:
Bangladesh is a country with great potential in the field of blue
economy, which stands for the sustainable use of marine
resources.The prospect of this sector not only in Bangladesh's
geographic proximity to water bodies but also in its abundant seafood
and fishery products which provide plenty of opportunities for export.
In 2014,we conquered the sea from Myanmar.As a result,our maritime
boundary has increased to 1.4 times that of another part of the whole
of Bangladesh.The present sea area of Bangladesh is 2,07,000 square
kilometers.Bangladesh has adopted Delta Plan-2100 in 2020,in which
the maritime economy has been given priority.The plan adopts five
strategies to harness the potential of the blue economy, one of which
is the speedy completion of a multidimensional survey of marine
resources.Through this, the government has taken up the first and
foremost task of utilizing the maritime economy.If activities are carried
out in at least four areas in the territory that Bangladesh has acquired
as a result of the sea,it is possible to earn about 2.5 trillion US dollars
every year by 2030.145 crore people live on the shores of bangladesh,
India,Myanmar, and Thailand, where Bangladesh is in the center.As a
result,there are good opportunities to enrich the economy of
bangladesh due to the huge economic potential here.
There are some growth sectors of the Blue Economy. These are:
Fisheries and aquaculture:At present, Bangladeshi trawlers catch
fish within 35-40 nautical miles from the coast.But our economy zone
is 200 nautical miles.According to food and Agriculture Organization
(FAO), Bangladesh is the first of the four countries among

3. Thailand,India,and China in the world to achieve huge success in
fisheries by 2022.Fish production has increased by 53% in the last 10
years and fish exports have increased by more than
20%.Hence,proper utilization of the marine area will surely increase
the fish industry.
Natural Resources and Energy:The amount of Bangladesh's natural
resources above the water and under the water are the same.The
mineral resources at the bottom of this sea include about 17 types of
mineral sand. Most of these are
zircon,magnetite,lycoxine,monazite,garnet,etc.All of these substances
are valuable,but monazite is thought to be a treasure.This radioactive
material is used to make atomic bombs and to generate energy in
nuclear reactors.
Tourism:The world's coastal tourism industry is a booming sector,and
it has been steadily increasing in recet years.In fact, globally, this
market segment alone accounts for 5% of the GDP as well as 6-7% of
total employment.The economic potential of Bangladesh can be
fostered by attracting more tourists,and this will not only help achieve
the goals outlined in Sustainable Development Goals(SDG) but also
contribute to GDP growth.
Shipping:90% of Bangladesh's freight trade is seaborne.This makes
the country dependent on maritime commerce.So,the shipping
industry has a great prospect on the blue economy.
Bangladesh must take some steps for the far-reaching development of
the blue economy.Supplying reliable data and accurate statistics is
necessary so that investors can be attracted to this sector and
contribute to the development.Government should formulate
short-term,medium-term,and long-term plans for the blue economy,
relying on technology and skilled manpower.Besides,ensuring scientific
research,eco-friendly collection,and sustainable use of fish and
undiscovered marine resources is also necessary.
At present, the blue economy is the new development concept which is
becoming an important driving force for achieving global sustainable
development. We should push forward the establishment of blue

4. partnerships around the globe, make mutual efforts to foster the new
driving force of blue economy, explore new markets, generate new
growth, co-establish service platforms and provide an industrial service
platform of achieving global blue economy development, connecting
technologies and markets, and also linking enterprises with finance.
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