Blue Economy

The Belgian academic Gunter Pauli was the first to coin the term 'The Blue Economy'
through his book published in 2010. The concept was subsequently endorsed by the
Rio+20 Conference in 2012. According to the Economist Intelligence Unit (2015), the
blue economy is 'A sustainable ocean economy, where economic activity is in balance
with the long-term capacity of ocean eco-systems to support its activity and remain
resilient and healthy'. The 'ocean economy', on the other hand, implies 'the sum of the
activities of the ocean-based industries, and the assets, goods and services of marine
eco-systems' (OECD, 2016). A blue economy, therefore, aims at maintaining a balance
between the economic opportunities and environmental limitations of using the
ocean to generate wealth.

According to Govt. Of Bangladesh's 7th fifth year plan, " Blue Economy comprises
activities that directly or indirectly take place in the seas, oceans and coasts using
oceanic resources and eventually contributing to sustainable, inclusive economic
growth, employment, well-being , while preserving the health of ocean. It includes
activities such as

▪ exploration and development of marine resources,

▪ Appropriate use of ocean and coastal space,

▪ use of ocean products,

▪ Provision of goods and services to support ocean activities and

▪ protection of ocean environment.

“The Blue Economy conceptualizes oceans and seas as “Development Spaces” where
spatial planning integrates conservation, sustainable use of living resources, oil and
mineral wealth extraction, bio-prospecting, sustainable energy production and
marine transport.

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Components of Blue Economy

▪ Living Resources

▪ Minerals

▪ Energy

▪ Coastal and Maritime Research and Education

▪ Ocean Support Services

▪ Desalination

▪ Desalination plants and related water supply systems construction

▪ Maritime Safety and Security

▪ Other Raw Materials (e.g. for marine biotechnology)

▪ Transport and Trade

▪ Tourism and Recreation

▪ Coastal Development

▪ Carbon Sequestration

▪ Blue carbon (i.e. coastal vegetated habitats)

▪ Coastal Protection

▪ Waste Disposal

▪ Existence of Biodiversity

▪ Cultural, Religious, Spiritual, Emblematic Services.

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Blue Economy Principles

A blue economy is a marine-based economy that…

• Provides social and economic benefits for current and future generations by
contributing to food security, poverty eradication, livelihoods, income,
employment, health, safety, equity, and political stability. 

• Restores, protects, and maintains the diversity, productivity, resilience, core

functions, and intrinsic value of marine ecosystems—the natural capital upon
which its prosperity depends.

•  Is based on clean technologies, renewable energy, and circular material

flows to secure economic and social stability over time, while keeping within
the limits of one planet.

•  Is governed by public and private processes that are . . .

1) Inclusive

2) Well-informed, precautionary, and adaptive

3) Accountable and transparent

4) Holistic, cross-sectoral, and long-term

5) Innovative and proactive

Prospects of Blue Economy In BD.

The 7th FYP specifically calls for the following twelve actions to be undertaken
“to create and maintain a prosperous and sustainable blue economy”:

1. protecting and managing the fisheries for the present and the future generations,
developing a strong renewable energy sector using ocean and atmospheric
forces,

2.developing a strong renewable energy sector using ocean and atmospheric

forces

3. maintaining existing (e.g., ship building) and developing new maritime

industries;

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4. extending fishing areas using new technologies and methods even beyond
EEZ in the international waters,

5.developing a strong human resources base for domestic utilization, and

export to foreign job markets,

6. substantially increasing fisheries production and export earnings through

improved aquaculture and introduction of mariculture.

7. creating a competitive tourism industry, including ecotourism and marine

cruises,

8. increasing revenue from shipping, commerce by expansion of domestic fleet,

destinations, transshipment, transit provisions, linking sea-ports.

9. give special priority to anticipated Climate Change impacts on all relevant

matters, and adjust policies and plans,

10. maintain the inland river systems and ecosystems for fishery, sediment
transport, and inland shipping,

11. building a solid science, research and education base and along with other
coastal areas,

12. establishment of a marine academy in Khulna.

Opportunities And Resources of Blue Economy

It is estimated that over 70 per cent of the planet earth is covered by oceans and 90
per cent of global trade is conducted over sea-routes.

It may be mentioned that the Bay of Bengal is the largest among the 64 bays in the
world and around 1.4 billion people live along its coastline in Bangladesh, India,
Myanmar and Thailand. Besides, nearly 40 per cent of Bangladeshi population live in
the coastal regions and about 30 million people (including household dependants) are
engaged in sea-related activities like fisheries and transportation.

Bangladesh has settled maritime boundary disputes with Myanmar in 2012 and with
India in 2014 through an arbitral method. It is estimated that Bangladesh has
acquired 118,813 square kilometres of the Bay of Bengal. The areas of resources
include 200 nautical miles of exclusive economic zone and over 354 nautical miles of
resources on seabed (continental shelf). It is estimated that the resources from the sea
of Bangladesh constitute 81 percent of the resources existing in its land territory.

Experts say that fish alone has 500 varieties besides snails, shell-fish, crabs, sharks,

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octopuses and other animals. Bangladesh is estimated to catch only 0.70 million tons
of fish every year out of the total 8 million tons of fish available in the Bay of Bengal.

Bangladesh would be able to extract resources worth about Tk 12,000 crore (1.2
billion dollar).

According to experts, the silt on the adjacent sea area in Bangladesh contains valuable
minerals such as uranium and thorium besides a large number of “clay” which
constitutes raw materials of cement. Experts believe that there exist 13 heavy
mineral-rich silts in the adjacent sea areas of Bangladesh, such as ilmenite, garnet,
colemanite, zircon, retile, and magnetite which, according to them, are more valuable
than gold. The sale of these minerals could earn billions of dollars for Bangladesh. It is
reported that the country has 75 outer-islands which could be utilised for tourists
both local and foreign.

It is worthwhile to mention that 15 percent of the protein is provided from sea

resources for the people across the world. Natural gas and oil constitute 30 percent of
the sea resources and over 50 percent of magnesium is extracted globally from the
seas.

It is significant to note that Bangladesh's trade is carried out mainly through the sea
and that a USD-45-billion trade is possible for Bangladesh. It is estimated that 5
percent of the country's GDP could be acquired by 2030 from the resources of the sea.
Bangladesh could be a developed country by 2041 if the resources are properly
extracted and adequately used. It is reported that Indonesia's national economy
depends largely on its sea resources and Australia is reported to have earned USD 44
billion from sea. 

At present, the economy of the world is estimated to be USD 88 trillion, of which USD
24 trillion is acquired from sea resources. By 2050, it is estimated that the population
of the world would be 900 crores (9 billion) and they would be fed largely from sea
resources.

According to World Bank (2018) estimates, the ocean economy contributes US$ 6.2
billion in gross value addition or 3.0 per cent of GDP to the Bangladesh economy. This
economy largely comprises of tourism and recreation (25 per cent), marine fisheries
and aquaculture (22 per cent), transport (22 per cent), and offshore oil/gas extraction
(19 per cent).

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Challenges for Bangladesh In Blue Economy

Ensuring the sovereignty over the total coastal area.

ii. Maintaining the security over the economic area (EEZ).

iii. Establishing marine eco-friendly infrastructure for marine tourist.

iv. Protecting the area (EEZ & high seas) from the international smugglers, trafficking
of drugs, humans and arms, fish pirates and nacro-terrorism.

v. Maintaining investment friendly environment in the awarded area.

vi. Sustainable use of biodiversity.

vii. Maintaining eco-balance marine and coastal ecosystems.

viii. Preserving mangrove and sea grass.

ix. Addressing climate change and managing carbon emission.

x. Maintaining sea level rise and change in ecosystem and temperatures, from coral
bleaching.

xi. Addressing ocean acidification and blue carbon.

xii. Keeping the sea area free from pollution and marine debris and

xiii. The growing human population, intensification of agriculture potentialities of

Blue Economy in Bangladesh Food security.

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References

Md Maruf Hossain, 2017. The Prospects and Challenges on the Sustainable

Development of Blue Economy in Bangladesh Introduction

World Bank, 2018. Toward a Blue Economy: A Pathway for Bangladesh’s Sustainable
Growth

World Bank. 2012b. Toward a green, clean, and resilient world for all: A World Bank
Group Environment Strategy 2012-2022. Washington, DC: The World Bank.

The Daily Sun, 2018. Blue Economy: A New Prospect for Bangladesh.
www.daily-sun.com/printversion/details/290283/2018/02/20/Blue-Economy:-A-New-Pr
ospect-for-Bangladesh

The Financial Express, 2018. Making the most of Blue Economy.

www.thefinancialexpress.com.bd/views/making-the-most-of-blue-economy-153149821
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WWF excer pted in World Bank and UN DESA 47. (2017 ) 

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