Marine fisheries can be a major component to reaping the rewards from Bangladesh's largely untapped blue economy as they already account for 52 percent of animal-based protein in Bangladesh, said an expert yesterday.

The country ranked third in producing fish from inland water-bodies, behind China and India, according to a report by the Food and Agriculture Organization (FAO).

The sector contributed 3.57 percent to the country's gross domestic product, according to Sadananda Sateesh Chandra Shenoi, a professor at the Indian National Centre for Ocean Information Services (INCOIS) in India.

"Of that, 57 percent came from aquaculture, 28 percent from inland open water bodies and 15 percent from seas," he said while speaking at an international conference titled "Ocean prosperity: Catalyzing Blue Economy in Bangladesh" at the Bangabandhu International Conference Center in the capital.

As per the World Bank, the blue economy is a sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of the ocean ecosystem.

Components that encompass the blue economy include ocean renewable energy, sea salt production, coastal tourism, marine trade, and shipping and transport.

"To ensure growth and sustainability of this sector, it needs to be backed by energy-efficient systems, environmentally benign culture systems, re-usable systems, and breeding fry suitable for intensive culture," he added.

Today, oceans face dual crises due to the continued growth in population and threat to health due to pollution of waterbodies alongside the impacts of climate change, he said.

"If maritime logistics, infrastructure and shipping are left unregulated, it can lead to numerous environmental problems, including air pollution, water pollution, coastal erosion, loss of livelihood for native communities and habitat destruction," Prof Shenoi said.

At the opening session, Jatiya Sangsad Speaker Shirin Sharmin Chaudhury called for united efforts from all concerned to ensure fair use of marine resources.

"The success of the blue economy depends on mutual cooperation. If the government, development partners, private sector and international community work together, it is possible to ensure the fair use of marine resources," she was quoted as saying by BSS.

She further underscored the need for proper investment in the research and development sector to tap the full potential of the blue economy.

She also said private enterprise initiatives in the blue economy could significantly increase knowledge and technological capacity.

Planning Minister Abdus Salam said Bangladesh has already identified the blue economy as a priority sector in its Delta Plan 2100.

"Therefore, we devised some suitable approaches and strategies for advancing this important sector," the minister said.

"We have already made some institutional and policy reforms to accelerate the implementation of Delta Plan 2100. A notable measure was establishing the Delta Wing and Blue Economy Wing in the General Economics Division of the Bangladesh Planning Commission.

However, we have a long way to go for full implementation of this mega-plan, which requires the cooperation of partners at home and abroad, he said.

At the event, State Minister for Finance Waseqa Ayesha Khan said marine resources have to be utilised for Bangladesh's sustainable development.

"Financing the blue economy is not just a matter of the Ministry of Finance, other ministries are also responsible," she said.

"Considering the importance of extracting marine resources and their proper use, the government has allocated Tk 100 crore for research and development activities in the current fiscal year of FY25," she added.

A Blue Economy Cell is working in coordination with 20 ministries for optimal utilisation of marine minerals and other resources, she said.

At the event, Mashiur Rahman, economic affairs advisor to the Prime Minister, Md Shahiduzzaman Sarker, state minister for planning, Satyajit Karmaker, senior secretary of planning division, Md Kawser Ahmed, member secretary of the general economic division, and Abdul Baki, secretary of agriculture, water resources and rural institutions division, also spoke.