Blue Economy refers to the sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystems. Oceans, covering 72% of the Earth’s surface and constituting over 95% of the biosphere, are vital for life, providing oxygen, absorbing carbon dioxide and regulating climate. They are also crucial for global trade, food and livelihoods. Post the Rio+20 conference, there has been increased focus on oceans and seas, leading to various initiatives aimed at sustainable development. The Blue Economy strategy, formulated in 2012, aims to harness the potential of maritime resources for economic growth, especially in coastal and island countries facing high unemployment and resource scarcity. The strategy views oceans as “Development Spaces” where spatial planning includes conservation, sustainable resource use, energy production and marine transport. It emphasizes the real value of natural (blue) capital in economic activities and the need for countries to protect the high seas.
NAVIGATING THE BLUE: INTEGRATING BIODIVERSITY IN BANGLADESH’S TOURISM STRATEGY
We need to consider several key strategies that align with sustainable development and conservation principles for Bangladesh to effectively boost blue tourism while preserving biodiversity. Bangladesh, with its 580 km of coastline and an Exclusive Economic Zone (EEZ) rich in biodiversity, including 475 fish species, has significant potential for blue tourism. The ocean contributed $6.2 billion in 2015, implying 3 percent of GDP for Bangladesh’s economy. Coastal and maritime tourism is projected to employ 1.5 million additional people worldwide by 2030. St. Martin’s Island, a biodiversity hotspot, supports 66 species of corals, 234 species of fishes, and various other marine life forms. To balance economic growth with ecological sustainability, Bangladesh can expand its network of Marine Protected Areas (MPAs), which currently includes 17 fish sanctuaries, 5 national parks and 10 wildlife sanctuaries. These MPAs not only protect marine life but also serve as attractions for ecoconscious tourists. Additionally, sustainable fishing practices and the use of eco-friendly technologies in larger trawlers can help maintain the balance between exploitation and conservation.
You can also read: Bangladesh Outperforms India and Pakistan in SDGs
The private sector can drive growth in blue tourism by investing in sustainable infrastructure and services that cater to tourists while benefiting local communities. For instance, community-based tourism initiatives can provide employment opportunities and ensure that the economic benefits of tourism are equitably distributed. The government can facilitate this by creating policies that encourage private investments in eco-friendly tourism projects and by providing training programs for local communities to manage tourism activities sustainably. Bangladesh also can explore alternative uses for marine resources to boost the economy. For example, the production of fish oil, liver oil and other by-products for industries such as pharmaceuticals, food enhancement and even biofuel can be expanded. Mariculture, which involves cultivating marine organisms for food and other products, can become a significant contributor to the economy, providing employment and income for coastal communities. This requires improved environmental management through technology, policy and legislation to address challenges posed by population pressures and resource competition.
TIDES OF CHANGE: BANGLADESH’S STRATEGY FOR BLUE RESOURCE OPTIMIZATION
Robust policy frameworks and legislation are essential to support sustainable blue tourism. Policies should incentivize the adoption of sustainable technologies and practices in the fishing and tourism industries. Legislation should enforce environmental standards and penalize non-compliance to ensure long-term ecological health. Bangladesh can optimize its blue resources for inclusive growth by implementing a comprehensive strategy that addresses the challenges and leverages the opportunities within its Exclusive Economic Zones (EEZs) and Areas Beyond National Jurisdiction (ABNJ).
Resource Rights and Conservation:
To ensure sustainable management of fisheries and marine genetic resources, Bangladesh can strengthen its legal framework to enforce resource rights and conservation. This includes adhering to international agreements and conventions, as well as developing national policies that promote responsible fishing practices and protect marine biodiversity. The country can also invest in research to better understand the marine ecosystem and the impact of human activities on it.
Marine Pollution:
Addressing marine pollution requires a multi-pronged approach. Bangladesh can enhance waste management systems on land to reduce the flow of plastics and other debris into the ocean. Additionally, the country can collaborate with regional partners to tackle pollution in the Bay of Bengal and support initiatives aimed at cleaning up marine environments.
Looking at Bangladesh’s current ocean economy by sector, it is mainly composed of:
Shipping and Port Facilities:
Improving shipping safety, security and environmental impact can be achieved by modernizing port facilities and adopting cleaner technologies. Bangladesh can also capitalize on its strategic location by developing its ports into regional hubs for maritime trade, which would contribute to economic growth and job creation
Fisheries and Aquaculture:
Fisheries and aquaculture are vital for food security and employment in Bangladesh. The country can optimize these sectors by promoting sustainable fishing methods, enhancing aquaculture practices, and investing in value-added processing industries. This will not only increase production and exports but also ensure the long-term sustainability of marine resources.
Sustainable Development Goals (SDGs):
Aligning with SDG 14, Bangladesh can integrate the conservation and sustainable use of marine resources into its economic planning. This involves protecting critical habitats, reducing overfishing, and combating ocean acidification.
Ocean Productivity:
To counteract the reduction in ocean productivity, Bangladesh can implement sound management practices that promote sustainable catches and food security. This includes establishing marine reserves, promoting biodiversity, and investing in marine research.
Tourism:
Marine and coastal tourism can be a significant source of revenue for Bangladesh. Developing ecofriendly tourism infrastructure and promoting sustainable tourism practices can attract international tourists while preserving the natural beauty of the coastal regions.
Energy:
Bangladesh can explore the potential of offshore energy production, including oil, natural gas, and wind energy. Investments in renewable energy sources like offshore wind farms can contribute to the country’s energy security and reduce its carbon footprint.
Biotechnology and Marine Genetic Resources:
The biotechnology sector offers promising opportunities for economic growth. Bangladesh can invest in research and development to harness marine genetic resources for pharmaceuticals, nutraceuticals, and other biotech products.
Bangladesh has recognized the importance of developing its blue economy, which includes the sustainable use of ocean resources for economic growth. The country has identified 26 sectors under the blue economy to be tapped, including ocean renewable energy and blue energy (osmosis) and biomass. The creation of the Blue Economy Cell (BEC) in January 2017 under the Energy and Mineral Resources Division of the Ministry of Power, Energy, and Mineral Resources was a step towards this goal. However, the BEC’s activities have been limited and there is a need for it to be upgraded to an authority with a permanent setup to effectively exploit the identified sectors.
To further tap into untapped blue energy, Bangladesh must:
- Accelerate Exploration: Increase exploration and drilling activities for offshore oil and gas, particularly
near maritime boundaries with India and Myanmar, to assess and exploit hydrocarbon potential. - Enhance Sea Salt Production: Improve production and economic returns for salt farmers through better land leasing, credit facilities and cooperative formation.
- Develop Ocean Renewable Energy: Implement government policies and financial support to overcome technical barriers and encourage private investment in wind, wave, tidal and Ocean Thermal Energy Conversion (OTEC).
- Promote Blue Energy and Biomass: Explore osmotic energy derived from the salinity gradient between salt and fresh water, along with nutrient recovery and reuse, to contribute to environmental sustainability and food security.
- Invest in Marine Genetic Resources: Conduct research into the deep-sea environment and its ecosystem services to harness marine genetic resources effectively for job creation, medical advancements and growth in the biotechnology sector.
CHARTING THE COURSE FOR POVERTYREDUCTION AND ENHANCED LIVELIHOOD
A balanced blue economy is one that ensures the sustainable use of marine resources while promoting economic growth and social inclusion. In Bangladesh, the blue economy can play a pivotal role in reducing poverty and improving livelihoods by:
- Creating Jobs: Developing sectors such as fisheries, maritime transportation, ship-recycling, shipbuilding, and coastal tourism can create employment opportunities.
- Supporting Communities: Implementing sustainable fishing practices, habitat protection, and private sector investment in mariculture can support local communities and contribute to economic upliftment.
- Promoting Coastal Tourism: Encouraging sustainable practices in coastal tourism can create jobs, reduce poverty, and attract private sector investment.
- Building Capacity: Training and technology transfer for introducing mariculture, strengthening fisheries management, and developing marine aquatic products are essential for sustainable marine resource use.
- Enhancing Marine Biotechnology: Investing in marine biotechnology research can explore the potential of sea biodiversity for economic benefits, leading to new enzymes, pharmaceuticals, and bio-sourced products. To achieve these goals, Bangladesh needs to focus on effective governance, capacity building and international cooperation. Establishing strong governance and institutional frameworks for equitable resource sharing and technology access would work wonders to achieve these goals. Enhancing the skills of human resources and integrating marine science, oceanography and maritime education into tertiary education and, engaging in regional and international arrangements that support global conservation and sustainable use of marine resources will pave the way for a more balanced blue economy.
SETTING SAIL FOR SUCCESS: BANGLADESH’S SHIPBUILDING INDUSTRY AS AN EXPORT TITAN
The shipbuilding industry in Bangladesh has the potential to become a major export giant and significantly contribute to the economy. This can be achieved through several strategic initiatives:
Expansion of Local Shipping Fleets:
Encouraging local shipping companies to expand their fleets can help meet the growing demand for cargo transport, driven by an average import and export growth rate of around 15%. With the projected freight value for the next decade at USD 435 billion, there is a substantial opportunity for local companies to capture a larger share of the maritime trade market.
Development of Coastal and Feeder Services:
Utilizing the extended coastline of Bangladesh, coastal shipping or feeder services can be enhanced to serve as a crucial link for transporting goods and connecting road networks across seas. This could transform Bangladesh’s feeder services and contribute significantly to the economy.
Enhancement of Seaport Capacities:
Improving the capacity of seaports and establishing deep-sea ports can support the increased trade volume, reduce export lead times, and generate additional revenue. This will also support various maritime economic activities.
Modernization of Shipbuilding Industry:
Bangladesh’s shipbuilding industry, with over 300 shipyards, can be modernized to build larger ships that meet international standards. This will not only earn but also save foreign exchange, providing a competitive edge in the global market.
Improvement of Inland Water Transport (IWT):
With one of the largest inland waterway networks in the world, enhancing the efficiency of the IWT logistics system can raise the country’s GDP and foreign trade.
Sustainable Fishing Practices:
The fishery sector, particularly the Hilsa shad catch, is vital for food and livelihood. Introducing technology and incentives for larger trawlers, along with sustainable practices like Marine Protected Areas (MPA), can increase marine catch while preserving marine biodiversity. Utilization of Marine Products and exploring alternative uses for fish parts and marine life can open up new industries and applications, further diversifying the economy. By focusing on these areas, Bangladesh can harness the full potential of its maritime resources and elevate its shipbuilding industry to become a leading exporter in the global market.
In conclusion, Bangladesh stands at the cusp of a transformative journey with its maritime resources poised to propel the nation towards sustainable development and economic prosperity. The effective boost of blue tourism, while preserving biodiversity, can be achieved through community-based ecotourism and conservation initiatives that protect ecosystems even as they attract visitors. Optimizing blue resources for inclusive growth requires a multifaceted approach, integrating policy support, investment in infrastructure and capacity building to harness the full potential of sectors like fisheries, aquaculture and maritime trade.
The strides taken thus far in tapping into untapped blue energy, such as the establishment of marine sanctuaries and national parks, lay a foundation for future endeavors. To further this momentum, Bangladesh can explore innovative energy solutions like offshore wind farms and tidal energy, supported by international partnerships and investments. A balanced blue economy, by its very nature, offers a pathway to reduce poverty and improve livelihoods through job creation, enhanced food security and equitable access to resources. Lastly, the shipbuilding industry in Bangladesh has the potential to become a major export giant, contributing significantly to the economy. With over 100 shipbuilders and 120 registered shipyards, the industry’s growth trajectory is promising, and with strategic investments and policy support, it can reach new heights in the global market. As Bangladesh navigates these waters, it must balance economic aspirations with environmental stewardship, ensuring that the blue economy remains a beacon of sustainability and equitable growth for generations to come.
