Presentation on blue economy of bangladesh

1. Presentation on-
Blue Economy
Dr. Md. Anwar Hossain Masud
Company Secretary, BTCL

2. What is Blue Economy?
Blue economy is a term in economics that is related
to the exploitation, preservation and regeneration of
the marine environment.
Include a wide range of economic sectors -
conventional fisheries, aquaculture, maritime
transport, Coastal, marine and maritime
tourism, coastal renewable energy, marine ecosystem
services (i.e. blue carbon), seabed mining,
and bioprospecting.

3. What is Blue Economy? (cont.)
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 ocean ecosystem."

4. Fundamental Principles of Blue
Economy:
Optimizing the benefits received from the
development of their marine environments eg fishery
agreements, bio prospecting, oil and mineral
extraction. Promoting national equity, including
gender equality, and in particular the generation of
inclusive growth and decent jobs for all. Having their
concerns and interests properly reflected in the
development of seas beyond national jurisdiction,
including the refinement of international governance
mechanisms and their concerns as States proximate to

5. Potential
Entails fisheries, tourism and maritime transport
Entails emerging industries including renewable
energy, aquaculture, seabed extractive activities and
marine biotechnology and bioprospecting
Carbon sequestration, coastal protection, waste
disposal, and the existence of biodiversity
The 2015 WWF briefing puts the value of key ocean
assets over US$24 trillion.

6. Potential
Aquaculture is the fastest growing food sector with
the supply of 58 percent of fish to global markets.
In the European Union the blue economy employed
3,362,510 people in 2014

7. Challenges
Three challenges specified by World Bank:
Current economic trends that have been rapidly
degrading ocean resources.
The lack of investment in human capital for
employment and development in innovative blue
economy sectors.
Inadequate care for marine resources and ecosystem
services of the oceans.

8. Sectors
Fishing
Marine Biotechnology
Minerals, Marine Renewable
Marine manufacturing
Shipping, Port & Maritime logistics
Marine Tourism & Leisure
Marine Construction
Marine Commerce
Marine ICT

9. Blue Economy in Bangladesh
In Bangladesh, discussions on blue economy started
after the settlement of maritime boundary delimitation
dispute with Myanmar and India in 2012 and 2014
respectively.
One of the important components of the blue economy
for Bangladesh is the marine fishery.
Supplies 52% of animal based protein in Bangladesh.

10. Blue Economy in Bangladesh (cont.)
Marine Non-Traditional Species, Marine Biotechnology,
Gas, Oil, Mineral, Sea Salt, Marine Resources, Marine
Renewable Energy, Shipping, Marine Trade, Transport and
Tourism, Maritime Surveillance, etc.
Ministry of Fisheries & Livestock have wide scope for
developing Fishing, Marine Bio-technology and Education
& research Sectors.

11. Blue Economy in Bangladesh (cont.)
At the end of the final settlement of maritime border
disputes with neighboring states Myanmar and India in
2012 and 2014 respectively, Bangladesh has received
entitlement to 118,813 sq. km in the BoB comprising her
territorial sea and Exclusive Economic Zone (EEZ) (MoFA,
2014).
Bangladesh stands at 121,110 sq. km of which coastal
waters and the shallow shelf sea constitute about 20%
and 35% respectively, the rest (45%) lying in deeper
waters.

12. Blue Economy in Bangladesh (cont.)
Bangladesh has the widest shallow shelf region
extending more than 100 nautical miles (185 km), 3-4
times wider than those of Myanmar, the eastern coast of
India and the global average (65 km), providing a greater
shallow bottom fishing area per unit length of coastline
than its neighbors.
More than sixteen million people (about 11% of total
population) of Bangladesh directly or indirectly depend
on the fisheries sector for their livelihood.

13. Blue Economy in Bangladesh (cont.)
The Bay of Bengal of Bangladesh is blessed with rich
coastal and marine ecosystems, hosting a wide range of
biodiversity, such as fishes, shrimps, molluscs, crabs,
mammals, seaweeds, etc.
A total of 234 species of fish have been identified from
the St Martin Island. Of which, 98 species are coral
associated.
The total number of recorded mollusk species from the
St. Martin’s Island stands at 187 species.

14. Blue Economy in Bangladesh (cont.)
7 species of crabs were recorded from the island.
A total of 66 coral species were recorded, of which 19
are fossil coral.
36 living coral and the rest are under 6 families of sub
class octocorallia.
A total of 14 species of algae and 3 species of lobsters
were recorded from the St. Martin’s Island.

15. Blue Economy in Bangladesh (cont.)
Potential:
 Exploration of untapped natural resources.
 Various industries will be formed around this
industry and there will be huge employment.
 Possibility of increasing international trade.
Businesses can be expanded locally and
internationally from the resources in the sea.

16. Blue Economy in Bangladesh (cont.)
Challenges:
Ensuring the sovereignty of the entire coastal
region and maintaining security in the economic zone
can be a challenging task.
The construction of eco-friendly marine
infrastructure for the purpose of sea tourism can be
another challenging task.
Providing protection of deep-sea and EZ areas can
be a difficult task.

17. Blue Economy in Bangladesh (cont.)
Challenges: (Cont.)
Maintaining the sea level and managing the
temperature difference in the environment will be
challenging.
Sea acidification and sea carbon issues might occur.
Keeping the sea free from pollution and waste is
very hard.
Many resources and opportunities remain untapped.

18. Blue Economy in Bangladesh (cont.)
 Future Steps:
Need to ensure investment-friendly environment in
the acquired sea area.
 The protection of mangroves and marine grass will
be essential.
Controlling carbon emissions and proper
management of climate change is also important.

19. Blue Economy in Bangladesh (cont.)
 Future Steps: (cont.)
Supply of reliable data and accurate statistics is
necessary in order to attract the investors to this
sector and contribute to the development.
Short-term, medium-term, and long-term plans for
the Blue Economy is necessary.
Need to rely on technology and skilled manpower is
essential.

20. Blue Economy in Bangladesh (cont.)
 Future Steps: (cont.)
 Have to ensure scientific research, eco-friendly
collection, and sustainable use of fish and
undiscovered marine resources.
Need to assess the feasibility of different sectors
and make plan on how to proceed or which sectors to
prioritize.

21. Thank You