Govt steps up efforts to unlock Bangladesh’s blue economy potential
The government is preparing fisheries rules, offering offshore exploration blocks and funding marine research, but limited technology, investment and enforcement remain barriers to its blue-economy plans.
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In a Nutshell
- Bangladesh has prepared draft frameworks for marine aquaculture, sustainable crab production and fishing beyond its exclusive economic zone.
- Petrobangla says all 26 offshore exploration blocks are being offered under revised terms covering gas pricing, pipeline investment support and exploration incentives.
- The government has allocated Tk200 crore for blue-economy research and development this fiscal year, including Tk100 crore for a dedicated research fund.
- New protected areas at Kuakata and Salimpur bring the number of nationally declared marine protected or reserve areas to seven.
- Bangladesh aims to raise fisheries exports from about $450 million in FY2024–25 to $1 billion by 2030, alongside expanding opportunities in ports, shipbuilding and maritime services.
Context
Bangladesh settled its maritime boundary disputes with Myanmar in 2012 and India in 2014, securing approximately 118,813 square kilometres of the Bay of Bengal in its territory. This opened a vast economic opportunity for Bangladesh but lack of resources was the main barrier to tap that. The latest plans seek to close that gap through research funding, investment incentives and rules for new activities.
Why It Matters
Bangladesh has a vast sea area, but much of its deeper-water economic potential remains untapped. The country’s strong overall fish production does not mean it is making full use of its offshore resources. Marine farming and higher-value fisheries could diversify exports, while commercially viable offshore gas discoveries could strengthen energy security.
What We Think
Tapping the blue economy means modernising ports, not just expanding activities at sea. Bangladesh has already brought in foreign companies to operate port terminals, but disputes over these deals show that the process will not be straightforward. Success will depend on better coordination among government agencies and other stakeholders, alongside transparent decisions that protect the national interest. Better equipment alone will not deliver a stronger blue economy.