Contribution and Prospect of Marine Fisheries in the Economy of Bangladesh and Sustainable Blue Economy Challenges: A Review

Abstract

Marine resources of Bangladesh are abundant, both in terms of huge sea area and its biological richness. The marine water area supports a large number of commercially important fin fish, mollusks, crustaceans, and seaweeds, offering significant economic potential due to their diversified use and high demand in the international market. Therefore, the current review comprehensively examines both the contribution and potentials of marine fisheries resources to the economy, as well as the challenges involved in marine fisheries sectors in attaining a sustainable blue economy in Bangladesh. The study revealed that, the marine fisheries plays an important role in national economy and has huge prospect in employment generation and ensuring food security of Bangladesh. The expansion of mariculture and effective utilization of marine resources will open a new window for the economic development of Bangladesh. Marine fisheries production of Bangladesh has increased over the last two decades, but its relative share in total fisheries production has declined. Despite being rich in marine living resources, commercial mariculture has been developed only for shrimp, prawn, and mud crab. Challenges hindering mariculture expansion includes limited research, technological deficiencies, inadequate skilled workforce, underdeveloped domestic seafood markets, and financial constraints. Concerted efforts including exploring new fishing grounds, conducting stock assessments, implementing scientific management strategies, enacting a national marine fisheries policy, enforcing legislation, and establishing robust surveillance and monitoring mechanisms are required to foster a sustainable blue economy in Bangladesh.