Bangladesh should tap blue economy: Dutch-Bangla Chamber

Bangladesh should devise mid- and long-term strategies to explore the "blue economy" as the country's maritime resources remained untapped despite the victory against neighbouring countries in the international tribunal on maritime boundaries in 2014. "Bangladesh's development progress depends on its capacities to explore the untapped maritime potentials after the great victory against Myanmar and India in maritime boundaries. Proper utilisation of the blue economy can contribute substantiality to the national economy," said Md Anwar Shawkat Afser, president of the Dutch-Bangla Chamber of Commerce and Industry (DBCCI) while speaking at the 22nd annual general meeting (AGM) of the DBCCI on Sunday, reads a press release. As the Netherlands has vast experience in exploring sea sources, Bangladesh can offer the EU country tapping the blue economy on a win-win basis, he added. Sources said Bangladesh has targeted to increase the contribution of the blue economy to GDP by 9% in 2025 and 10% by 2030. According to some estimates, Bangladesh has $120 trillion-ocean resources which could make Bangladesh an Asian superpower. In 2014, the International Tribunal for the Law of the Seas verdict gave Bangladesh the sovereign rights to 1,18,813 sq km territorial sea, 200 nautical miles of exclusive economic zone and all kinds of animal and non-animal resources under the 354 nautical miles continental shelf.

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