Potentials for the development of blue economy: prospects and challenges of mariculture in Bangladesh

This paper sets out to address the prospects and potentials for the development of blue economy in Bangladesh through the sustainable use of its vast marine resources. It lays out the current state of comprehensive knowledge regarding opportunities and challenges for developing the sector as well as the emerging potentials in developing the blue economy for improving social and economic conditions of the country. The paper also highlights a total of 26 productive blue economy development and economic sectors, which have been identified for full utilization of ocean-based resources within the present maritime boundary of Bangladesh, among which 12 sectors have been prioritized as major sectors including Marine Fisheries and Aquaculture. Emphasis has been given to this sector as the most potential one for overall economic benefit and livelihood development of hundreds and thousands of coastal rural peoples of the country. Specifically, prospects for developing mariculture opportunities of both brackish and marine fish species as well as mariculture of non-traditional marine species in the coast, near shore and offshore areas have been addressed. In fine, the paper describes the current framework of marine resource management in the Bay of Bengal, delves into the challenges of mariculture development under the concept of blue economy in the seventh 5 Year Plan of the Govt. of Bangladesh and also recommends ways to advance blue economy governance in order to address pressures and ensure sustainable development of mariculture in the country. However, further researches/investigations are required to make a detailed account about the prospects, contributions, challenges and managements of maricuture-based blue economy in the development of Bangladesh’s economy in commensurate with the national and international perspectives.