Bangladesh Targets Blue Economy for $1 Trillion GDP by 2034

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Dhaka:State Minister for Planning Zonayed Abdur Rahim Saki emphasized the importance of marine resource management in significantly contributing to Bangladesh's GDP to reach a $1 trillion economy by 2034.

According to United News of Bangladesh, Saki addressed a seminar titled 'Planning Perspective on the Emerging Industries in the Blue Economy Sector of Bangladesh,' highlighting the government's focus on rail and inland waterways, alongside road transport. The seminar was organized by the Centre for Bay of Bengal Studies at Independent University, Bangladesh (IUB).

Saki outlined several priority sectors within the blue economy, including shipbuilding, port management, and development, alongside enhancing connectivity between ports and industrial production centers. The Prime Minister's Office has established a Blue Economy Cell to foster coordination among institutions involved in the sector.

The state minister underscored the necessity of collaboration among the government, academia, and the private sector to build the required skilled workforce for the blue economy's growth. He acknowledged the critical role of universities in developing skilled human resources and thanked IUB for its contributions.

Javed Hosein, a member of the IUB Board of Trustees, highlighted inefficiencies in port operations and logistics, which affect Bangladesh's competitiveness in international trade. He noted that unloading a 21,000-tonne fuel oil tanker takes significantly longer in Bangladesh than in Singapore, and garment exports suffer delays due to corruption.

Rear Admiral (retd) Md Khurshed Alam, director of IUB's Centre for Bay of Bengal Studies, presented the keynote on the prospects of the blue economy and emerging industries. Prof Dr Bakhtiar Ahmed delivered the vote of thanks at the seminar, moderated by student Marium Binte Hassan Farin.