Experts have suggested the formation of a national coordinating authority as a one-stop centre for Blue and Ocean Economic Development in the country.

They also stressed the need for stronger governance, international investment, and efficient financial management to unlock the sector's potential. 

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The recommendation came during a two-day webinar titled “Blue Economy in Bangladesh: Investment Possibilities for a Sustainable Economy in the New World Order”, held on May 13–14.

The International Research Center of SIMEC Institute of Technology and the Centre for International Development, Social Entrepreneurship, and Leadership (CIDSEL) at the University of the Sunshine Coast, Australia jointly organised the programme, said a press release.

Tami Harriot and Anupam Ejaz from CIDSEL, Australia, contributed to the discussions as co-organisers, while Dr Sariful Islam, Coordinator of the International Research Center at SIMEC Institute of Technology, moderated the sessions. Dr Md Shariful Islam, Associate Professor in the Department of International Relations at Rajshahi University, delivered the valedictory speech.

On the first day of the webinar, discussions focused on the investment opportunities and financial management of the Blue Economy in Bangladesh.

The second day highlighted the key actors and factors influencing Bangladesh’s Blue Economy, as well as the critical importance of ocean health and sustainable development.

A key takeaway from the discussions was the pressing need for a unified national authority to oversee and coordinate all Blue Economy-related activities in Bangladesh.

The role of BIDA and other Blue Economy Cells within ministries should be coordinated for better outcomes, the speakers said.

The fellows will prepare a comprehensive policy brief for the sustainable development of the Blue Economy in Bangladesh and submit it to the government and relevant authorities.

The webinar was part of a post-course activity under the Australia Awards Fellowship programme, which focuses on improving research and policy in Bangladesh’s Blue Economy.

The programme is funded by the Department of Foreign Affairs and Trade (DFAT), Australia.

Government officials, researchers, academics, NGO representatives, scholars, and journalists with expertise in Bangladesh's Blue Economy participated in the webinar.

Key participants included Dr Sanwar Jahan Bhuiyan, Secretary of Bangladesh Public Service Commission; Dr SM Shameem Reza, Professor in the Department of Mass Communication and Journalism at Dhaka University; Ms Foara Yasmin, Executive Director of SIMEC Group; Dr Ratan Kumar Roy, Director of SIMEC Institute of Technology; Dr Moazzem Hossain, Retd Additional Secretary; Abdullah Al Maher, Group CEO and Head of Business at IDS Group, among others. 

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