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Assignment 3 FOB

Maritime science involves acquiring and applying knowledge of navigation, ship design, engineering, environmental management, and more. The blue economy aims for sustainable ocean resource use to boost economic growth while preserving ocean health. Bangladesh's large leather industry makes garments, shoes, and other goods, exporting about 85% abroad, especially to EU, US, and Asia. The country's geographic location by sea and land provides strategic advantages for trade.

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10 views

Assignment 3 FOB

Maritime science involves acquiring and applying knowledge of navigation, ship design, engineering, environmental management, and more. The blue economy aims for sustainable ocean resource use to boost economic growth while preserving ocean health. Bangladesh's large leather industry makes garments, shoes, and other goods, exporting about 85% abroad, especially to EU, US, and Asia. The country's geographic location by sea and land provides strategic advantages for trade.

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© © All Rights Reserved
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What is Maritime Science & Blue Economy?

Maritime science is the ability to acquire and apply knowledge of mathematical


foundations, navigational planning and ship design, engineering tools, maritime
administration, search-and-rescue operation, salvage operation, risk and accident analysis,
environmental management, marine motors and marine propulsion.

The blue economy is the sustainable use of ocean resources for economic
growth, improved livelihoods, and jobs while preserving the health of ocean
ecosystem.

The leather industry in Bangladesh

Leather Industry was developed in Bangladesh on a large-scale mainly in the 1970s as one of
the largest industry of Bangladesh. The government considers ‘leather goods and footwear’
as one of the main growth generators for the country. Bangladesh leather industry makes
leather-based products such as garments, shoes, belts, bags, and jackets, suitcases, wallets,
and some fancy items. These products are sold both in the domestic and foreign markets.
Leather footwear is the fastest growing segment of the leather industry. Bangladesh meets the
demand for about 10% of the world’s total leather market. According to the Leather Goods
and Footwear Manufacturers’ and Exporters’ Association of Bangladesh (LFMEAB), the
domestic demand of leather footwear and goods was worth about Tk 160 billion but 40
percent of the demands are met by importing goods from abroad. About 85% of leather and
leather products of Bangladesh are exported abroad, mostly in the form of crushed leather,
blue wet leather, finished leather, leather garments, and footwear. Most of the leather and
leather goods are exported to the EU, the US, Australia, Japan, Singapore, and South Korea
etc. Current demand for the leather, leather product and footwear in the world is nearly $215
billion where Bangladesh exports only US$ 1.08 billion. As a result, we have a huge
possibility to grab the market with our highest level of efficiency and proper strategic
planning. The government should plan and provide facilities to increase the value addition as
the sector can move forward easily. (Mahfuz, 2018)
In the global co-operative sector why the geographical sector of
Bangladesh is important?
Industries in the cooperative sector are run and controlled by a small group. The members
generally are the ones who produce raw materials. Some examples of these industries include
handloom, food processing, and dairy products. These industries are operated and owned by
the suppliers or producers of raw materials, employees or both. Bangladesh is a country who
can easily export these raw materials because we have the man power to produce according
to the need of buyer and we have the advantage of our own sea port. Our geographic location
provides us with a strategic advantage over our peers. Sri Lanka has a central position in the
Indian Ocean, but it is an island state. In contrast, Bangladesh has a balanced sharing of land
and sea so the country can take advantage of land transport with India, Nepal, Bhutan, and
Myanmar.

What is silk route?


The Silk Road was an ancient trade route that linked the Western world with the Middle East
and Asia. It was a major conduit for trade between the Roman Empire and China and later
between medieval European kingdoms and China. The Silk Road earned its name from
Chinese silk, a highly valued commodity that merchants transported along these trade
networks. The expedition of Zhang Qian in 138 BC is considered to be the foundation of the
first 'Silk Road'. On his return to Han China, his most important achievement was to
demonstrate the possibility for safe travel far to the west. Silk Road provided goods and
services to over 100,000 buyers until it was Shut down by the FBI in October 2013.

What are the major industrial sectors in national economy of


Bangladesh?
The Economy of Bangladesh is classified into three sectors. Of these, the average
contribution of service sector, industry sector, agriculture sector to the GDP are 49.33%,
28.42% and 22.42% respectively. So, the service sectors contribute most of the development
of national economy. In 2021, the share of agriculture in Bangladesh's gross domestic product
was 11.63 percent, industry contributed approximately 33.32 percent and the services sector
contributed about 51.3 percent. Bangladesh has made significant strides in its economic
sector performance since independence in 1971. Although the economy has improved vastly
in the 1990s, Bangladesh still suffers in the area of foreign trade in South Asian. Despite
major impediments to growth like the inefficiency of state-owned enterprises, a rapidly
growing labor force that cannot be absorbed by agriculture, inadequate power supplies, and
slow implementation of economic reforms, Bangladesh has made some headway improving
the climate for foreign investors and liberalizing the capital markets.
What is Effectiveness and what is Efficiency?
Effectiveness is the capability of producing a desired result or the ability to produce desired
output. When something is deemed effective, it means it has an intended or expected
outcome, or produces a deep, vivid impression. The term efficiency can be defined as the
ability to achieve an end goal with little to no waste, effort, or energy. Being efficient means
you can achieve your results by putting the resources you have in the best way possible. For
example, a car is a very effective form of transportation, able to move people across long distances, to
specific places, but a car may not transport people efficiently because of how it uses fuel.

Bibliography
Mahfuz, A. A. &. M. A. A., 2018. Textile Today. [Online]
Available at: https://www.textiletoday.com.bd/overview-bangladesh-leather-industry/
[Accessed 20 October 2022].

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