Blue Economy in Bangladesh: Proposed Model and Policy Recommendations

Abstract

Rapid economic growth coupled with a rising population is putting immense pressure on the environment, ecology and natural resources in Bangladesh. In order to ensure the optimum opportunities for a productive and healthy life for the people while maintaining the balance in nature and ensuring sustainability for future generations, the country has to have balanced socio-economic development. Geographically Bangladesh is blessed by the Bay of Bengal and Blue Economy is very much suitable for Bangladesh by considering the maritime area and its connection with the people of Bangladesh as well as its economy. However, the aim of the paper is to look at the contemporary situation in Bangladesh in the context of the Blue Economy and its relevance for Bangladesh through some effective strategies. Effective implementation of strategies will play the major role for obtaining the sustainable economic development in Bangladesh. Moreover, the key role of the current study is that it focuses on Sustainable Blue Economy Bangladesh, as there is a vacuity in contemporary literature on this topic in the context of Bangladesh. The article concludes with an analysis of the policy recommendations to obtain Sustainable Blue Economy in Bangladesh.

Keywords: Blue Economy; Sustainable Blue Economy; Sustainable Development; Strategies; Bangladesh.