National coordinating authority formation suggested for blue economy development

Experts in the blue economy sector have called for a shift towards stronger governance, national and international investment, and more efficient finance management.

The call came from 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, said a press release.

They have suggested the formation of a national coordinating authority as one-stop-centre for blue and ocean economic development in the country. 

This event was jointly organized by the International Research Center of SIMEC Institute of Technology and The Centre for International Development, Social Entrepreneurship, and Leadership (CIDSEL) at the University of Sunshine Coast, Australia. 

The webinar was part of a post-course activity under the Australia Awards Fellowship program, 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. S.M. Shameem Reza, Professor of 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.

Tami Harriot and Anupam Ejaz from CIDSEL, Australia, contributed to the discussions as co-organizers. 

Dr. Sariful Islam, Coordinator of the International Research Center at SIMEC Institute of Technology, moderated the sessions while 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, the discussions focused on the investment opportunities and financial management of the blue economy in Bangladesh. 

The second day highlighted on examining 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 with ministries should be coordinated for a better outcome, the speakers opined. 

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