SUSTAINABLE DEVELOPMENT: THE

IMPORTANCE OF BLUE ECONOMY

Preeti Kana Sikder
Assistant Professor, Department of Law & Justice
Jahangirnagar University
Lesson Overview
 What is Blue Economy?
 Components of Blue Economy
 Necessary National initiatives for Blue
Economy
Understanding Blue Economy
 The term ‘Blue Economy’ was first introduced
by Professor Gunter Pauli in 1994.
 Its introduction was part of the global
transition from traditional economic path to
human centric development, which focused
harmony with nature and sustainability.
 The concept of Blue Economy has been
mainstream in response to the 2012
Conference on Sustainable Development or
Rio+20
Nature of Blue Economy
 Blue Economy was introduced to respond to the new
economic demands, ecological needs and the
dynamics of global climate change.
 Contrary to previous practices which focused
on resource extraction and financial benefits, Blue
Economy tries to strike a balance between ocean-
based development and environmental protection.
 Blue Economy has been used synonymously to ‘marine
economy’, ‘coastal economy’, ‘ocean economy’, ‘green
economy’.
 While the basic tenets and goals of these competing
paradigms nearly similar, there are basic differences
in the approaches and treatment of various elements,
e.g., resource management, growth objectives,
According to Gunter Pauli: “to allow ecosystems to
maintain their evolutionary path so that all can benefit
from nature’s endless flow of creativity, adaptation and
abundance.”

Aim of Blue Economy

Understanding Blue Economy
 The Economist, in a report titled ‘The Blue
Economy: Growth, Opportunity and a
Sustainable Ocean Economy’ defines it as:
• A sustainable ocean economy emerges when
economic activity is in balance with the long
term capacity of ocean ecosystems to support
this activity and remain resilient and healthy.
Understanding Blue Economy
 “As a sub-set of the economy, Blue Economy
covers all ocean-related activities including
direct and indirect supporting activities
required for functioning of these economic
sectors, while adjusting to the costs of
environmental damage and ecological
imbalance caused due to exploitation of ocean
resources for consumption. Therefore, the
scope of Blue Economy is much wider and
inclusive”.
• Research and Information System for Developing Countries
(RIS)
Understanding Blue Economy
According the United Nations:

“Blue Economy is a marine-based economic

development that leads to improved human well-
being and social equity, while significantly
reducing
environmental risks and ecological scarcities.”
Understanding Blue Economy (WWF)
 Blue economy is a marine based economy.
 It provides social and economic benefits for
current and future generations.
 It contributes to:
1. Food security 5. Employment 9. Political Stability
2. Poverty eradication 6. Health
3. Livelihoods 7. Safety
4. Income 8. Equity
Bangladesh’s Approach to Blue Economy
 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.
 Blue Economy requires a balanced approach
between conservation, development and
utilisation of marine and coastal ecosystems,
all oceanic resources and services.
The notion of the Blue Economy as a development
model central to the livelihoods of coastal
communities is favoured by developing countries
and development organizations. It places human
well-being and livelihood as a central objective of
the Blue Economy, with heavy emphasis on the
goal of poverty alleviation.

BLUE ECONOMY IN BANGLADESH

Blue Economy in Bangladesh
 The Government of Bangladesh defines the Blue Economy
concept as a sustainable pathway forward for growth of the
ocean economy.
 According to the Seventh Five 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.”
 Bangladesh’s approach to Blue Economy also states that
Blue Economy “requires a balanced approach between
conservation,
development and utilization of marine and coastal
ecosystems, all oceanic resources and services.”
 In 2017, the GoB has established the “Blue
Economy Cell’ with the mandate to coordinate
Blue Economy initiatives across sectoral
ministries.
According to a World Bank report, the gross
value added to Bangladesh in 2014-15 from
ocean economy was US$ 6,192.98 million
which was around 3.33 per cent of the
Bangladesh economy.
BLUE ECONOMY IN BANGLADESH
Components of Blue Economy in
Bangladesh
Necessary Steps for Bangladesh
 Devising a National Plan:
• Purpose of a Blue Economy plan should be to
establish a framework that can guide the planning
and development of maritime activities in a rational
and sustainable manner for social and economic
development of Bangladesh
Necessary Steps for Bangladesh
Strengthening Legal Framework:
 It is necessary to formulate and strengthen legal frameworks to better
integrate Blue Economy considerations.
 For Example, to give an effect to her Blue Economy policy, South
Africa established the Ocean Act and the Integrated Ocean
Governance regime which was necessary to give Operation Phakisa
the force of law as a Blue Economy component of South Africa’s
national development plan 2030.
 Similarly, the US Magnuson-Stevens Fisheries Conservation and
Management Act (MSA) of 1976 was amended in 2007 to enable her
achieve long term sustainability in fisheries.
 For Bangladesh, the starting point could be the ongoing efforts to
design the Integrated Coastal and Ocean Management Policy, as well
as the various Blue Economy sectoral policies under review or design.
Necessary Steps for Bangladesh
Developing Blue Economy Institutional Framework
 At present, maritime affairs in Bangladesh are managed
without any central coordination. There are many agencies
involved, e.g., the Navy, the Coast Guard, Ministry of Fisheries
and Livestock, Department of Energy and Mineral Resources,
Ministry of Shipping and so on.
 Therefore, institutions operating independently are yet to have
for proper coordination and accountability of the Blue
Economy activities.
 For greater coordination, a central coordinating body is
necessary given the increased level of activities in maritime
areas.
Necessary Steps for Bangladesh
Developing Resource Exploration and Extraction
Capacities:
 It needs to expand comprehensive technological
and technical knowhow required for effectively
exploring, drilling and extracting marine resources.
 Bangladesh needs to carry out a comprehensive
and pragmatic survey of marine resources.
 It will unveil the vastness of marine resources. The
importance of having a satellite for maritime
survey and research is of utmost requirement.
Necessary Steps for Bangladesh
Prioritising Higher Education and Better Research
Facilities:
 Bangladesh needs to have a strategic plan to prepare skillful
human resources for maritime sectors.
 An economy can never be successfully established unless and
until it is cultivated and shaped from the root level.
 Therefore, the government’s initiative to establish a
Maritime University was a significant decision. the
establishments of the Bangladesh Oceanographic Research
Institute (BORI) and Bangladesh Institute of Maritime Research
and Development (BIMRAD) by the government are welcoming
steps to the creation of marine scientific community
Conclusion
Implementation of Blue Economy

Measur Manag Monito

Invest
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