Abstract
Blue economy is an emerging concept in all over the world where Bangladesh is not in exception. The blue economy of Bangladesh is subject to multiple interlinked activities. Among the major activities, food production, shipping and trade, tourism, ecosystem-biodiversity, new technologies and climate change challenges are the most promising sectors which are discussed in this chapter to project the present and future potential, constrains, ways to overcome in the context of the blue economy of Bangladesh following various published literatures. The review has revealed that Bangladesh has enormous resources which have great potential to uplift the existing economy, improving livelihoods, while significantly reducing environmental risks and ecological scarcities. However, there are lot of constrains which hinder to get the ultimate fruit from these potentialities. The major constrains include lack of policy, institutional or organizational structure and coordination, data or information, knowledge in innovating and diversifying marine products and services, marketing strategies, continuous scientific research, skilled manpower with motivation and dedication, public awareness, maritime security and concern in marine and coastal environment. Initiations to overcome these constrains with long and short term strategic plans and properly implementing the strategic decisions will bring the state more productive and could be a model country with blue economy approach.
Highlights
The blue economy approach is based on a vision of “improved wellbeing and social equity, while significantly reducing environmental risks and ecological scarcities” (UNEP 2013)
The peaceful resolution of maritime discords has opened a golden opportunity to explore and exploit the vast valuable resources in the coastal and marine waters of Bangladesh. Sustainable management of these resources can give us the optimal benefits to uplift our existing economic condition. We show how these resources can be properly utilized for food production, shipping and trade, tourism, ecosystem-biodiversity conservation, new technologies and climate change challenges
Considering huge potentialities of these resources and major obstacles to achieve blue economy goals, we suggest some strategies or policies to exploit these non-renewable resources in sustainable manner
Summary
The blue economy approach is based on a vision of “improved wellbeing and social equity, while significantly reducing environmental risks and ecological scarcities” (UNEP 2013). It is a revolutionary concept that has opened enumerates number of windows to uplift a national economic functional ecosystem and can act as a milepost from developing to a developed country. Emphasis on this concept and its potentialities, possibilities, and exploiting untapped marine environment would make the economic backbone more strong as well as improving human welfare, creating opportunities for employment, alleviating poverty, ensuring national food security, protecting environmental balance, a solution for adverse impacts of climate change. The concept of blue economy is subject to multiple activities that are interlinked These activities include twenty-six maritime economic functions (Alam, 2014) following six broad categories mentioned below which can be identified as integral part of blue economy of Bangladesh. Journal of Ocean and Coastal Economics, Vol 6, Iss. 2 [2019], Art. 5 constrains, ways to overcome in the context of the blue economy of Bangladesh following published journal articles, reports and different official web documents
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