Photo : Messenger
Oceanic resources play a crucial role in the development of countries rich in coastal resources, aiming to enhance food security, job opportunities, and economic prosperity.
The Bangladesh government has initiated efforts to harness the potential of the sea, which will propel the country towards sustainable development goals. The sea will primarily cater to energy needs, meeting demands in the industry for gas and power.
Officials from the Energy Division have said that the government has issued tenders for gas and oil extraction from the sea, with plans to exploit other oceanic resources subsequently.
Experts say that acquiring over 118,813 square kilometres of sea area marks a significant achievement for the government. There is potential to elevate the country's GDP beyond 10 percent through the marine economy, effectively eradicating total unemployment. The blue economy can substantially contribute to positioning Bangladesh among the ranks of developed countries by 2041.
Furthermore, the term ‘blue economy’ generally denotes a sustainable ocean-based economic model, wherein coastal and marine ecosystem resources are utilised to enhance food security, alleviate poverty, create jobs, boost trade and industry, all while conserving biodiversity and protecting coastal and oceanic environments, as well as the well-being of coastal communities.
Already, coal-based power plants with a capacity of 1,320MW are under construction, with plans for another plant in Bashkhali, Chattogram, where unused salty lands are available. Experts anticipate that this locality will benefit from improved food security, job opportunities, and economic prosperity.
State Minister for Power, Energy, and Mineral Resources, Nasrul Hamid, told the Daily Messenger, “We have a comprehensive plan to tap into sea resources for mainstream economic development. We have already established a cell named the ‘Blue Economy Cell.’ I am confident that the blue economy will be pivotal in achieving the SDGs.”
Country’s eminent energy expert Professor M Tamim told the Daily Messenger, “Oceanic resources are a boon for any country. Bangladesh has the potential to make a transformative impact to achieve the SDGs, but the government has lagged behind in this aspect for too long.”
The Bay of Bengal harbours abundant resources. Beneath its brackish waters lie vast reserves of valuable minerals and marine life. Marine tourism alone presents a billion-dollar revenue opportunity. The maritime economy has bolstered the economies of maritime nations like Hong Kong, Japan, Singapore, Malaysia, Thailand, Indonesia, Australia, and China. Notably, Singapore's GDP relies on the sea for 40 percent of its revenue.
11 years ago, in a judgment by the International Court of Justice, Bangladesh was granted exclusive ownership of an area in the Bay of Bengal almost equal to the country's land area, opening up numerous possibilities. The government also prioritised this issue. However, even after a decade, there has been no visible progress in extracting marine resources and leveraging the sea to boost the country's economy.
Ultimately, the ocean economy remains largely untapped. Since 2004, Myanmar has been extracting its share of 4 trillion cubic feet of gas from the Bay of Bengal, exporting it to China. However, there exists the potential for gas extraction in the Bangladeshi part of the same area, yet no significant initiatives have been implemented in this regard over the past 11 years. Last month, the government floated a tender for international energy bidders.
By now, Bangladesh should have been at the forefront of tuna fish exports. Following the international court's judgment, Bangladesh gained legal authority in the ‘Swatch of No Ground’ area, which is a rich habitat for tuna fish. However, stakeholders believe that Bangladesh is lagging behind in utilising marine resources due to a lack of coordination and fragmented activities.
In 2015, the Bangladesh Oceanographic Research Institute was established in Cox's Bazar to conduct research on marine resources. In 2017, the ‘Blue-Economy Cell’ was established under the Ministry of Energy and Mineral Resources. Several universities introduced Departments of Oceanography. In 2018, the Bangladesh Institute of Maritime Research and Development (BIMRAD) was established with assistance from the Navy Headquarters. The Bangladesh Delta Plan prioritised the marine economy, outlining five strategies to harness the potential of the blue economy, including the expedited completion of a multi-dimensional survey of marine resources.
Over the past decade, there has been some research on marine resources. However, apart from that, there has been minimal progress in resource extraction, with activities mainly limited to meetings, seminars, and symposiums. The Ministry of Foreign Affairs conducted research for two years with institutions from the Netherlands and the United Kingdom, identifying significant resources such as gas hydrates, seaweed species, marine fish species, oysters, shrimps, lobsters, crabs, and crayfish in Bangladeshi waters. Although the study reports were released last year, there has been no clear direction on further steps for resource extraction.
Meanwhile, many countries worldwide, including Hong Kong, Japan, Singapore, Malaysia, Thailand, Indonesia, Australia, and China, have long depended on the maritime economy for their development.
Messenger/Fameema
