Blue Economy: Blue economy is a sustainable development of the ocean economy. This definition is based on the World Bank and UN DESA (2017) framework for a blue economy, as well as FAO’s (2014) definition, to be consistent with the three-dimensional sustainable development paradigm (social, environmental and economic dimensions) underpinning the Sustainable Development Goals (Toward a Blue Economy: A Pathway for Bangladesh’s Sustainable Growth, 2018).The status of ocean ecosystems will define how productive and efficient the future ocean economy will be (OECD 2016). Concerned by the magnitude of these changes, the UN General Assembly adopted Sustainable Development Goal (SDG) 14 in 2015 focused on ocean conservation and sustainable use. The Global Ocean Commission estimated the market value of marine and coastal resources at US$3 trillion annually (Global Ocean Commission, 2014), and annual gross revenues have been estimated on the order of US$2.6 trillion (Golden et al. 2017).
Potential research Sector for the Blue Economy support of Bangladesh: There are six major research field in oceanography can be revealed in Bangladesh for Blue Economy development is summarized below-
Activities of BORI: In the context of winning the maritime boundary delimitation with Myanmar and India, Bangladesh achieved sovereign right over all types of living and non-living resources within 1,18,813 square kilometers of sea area, 200 nautical miles Exclusive Economic Zone (EEZ) and 354 nautical miles Continental Shelf from the coast of the seafront. Development of Blue Economy is the electoral manifesto of present Government and as a newly opened sector there is huge probability of Blue Economy in Bangladesh. Bangladesh Oceanographic Research Institute (BORI) is working to conduct all the activities as a focal point of Bangladesh at national and international levels in the field of oceanography and Blue Economy in the context of research and development. BORI developed different types future plan based on Election Manifesto, 2018 (Chapter 3.22), Short-mid-long term plan based on Blue Economy and future plan based on the year of 2021, 2030 and 2041.
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