Senior Researcher
Blue Economy
In my presentation, allow me to highlight on Blue Economy, Delta Economy, Archipelago and Coastal economies of the Bay of Bengal Coastal Countries (BBCC) as a concept of Regional Economic Integration among BBCC.
The Blue Economy (BE), also known as the ocean economy, encompasses economic activities related to oceans and seas. Introduced by Belgian entrepreneur Gunter Pauli, the concept gained prominence at the Rio Summit of 2012. The BE involves sustainable utilization of ocean resources, supporting livelihoods and ecosystem health, activities include maritime shipping, fishing, aquaculture, tourism, renewable energy, and more. Globally valued at over $1.5 trillion annually, the BE provides jobs for over 30 million people.
The Bay of Bengal (BoB) is a significant reserve for hydrocarbon resources and vital living resources. The BE’s growth in the BoB contributes significantly to regional GDP and global trade. The Bay of Bengal Initiative for Multi-Sectorial Technical and Economic Cooperation (BIMSTEC) plays a crucial role in fostering collaboration among member nations, addressing challenges like piracy, overfishing, and climate issues. However, challenges persist in enhancing safety procedures and securing consistent financial support. Judicial integrity and establishing the rule of law in the maritime zone are essential but face disparities among ports. India’s Maritime Anti-Corruption Network (MACN) addresses corruption issues. Governments in the BoB region should turn promises for Blue growth into actions, encouraging collaboration and investment.
To conclude the Blue Economy, there are challenges facing including weaker domestic economies, corruption, inflexible policies, and insufficient information exchange. Addressing these challenges requires knowledge sharing, sustainable utilization processes, and increased research and development funds. Despite hurdles, sustained goals and action plans offer hope for the future development of the BoB marine ecosystem.
River deltas, such as the Ayarwaddy in Myanmar, the Mekong in Southeast Asia, and the Ganges-Brahmaputra in Bangladesh, are vital economic regions facing distinctive challenges while contributing significantly to economies.
The Ayarwaddy River Delta, encompassing a vast area in Myanmar, is pivotal for the country’s economy, supporting agriculture, fishing, and industries. However, this delta faces numerous challenges, notably cyclones and natural disasters that result in infrastructure damage and impact agricultural productivity and livelihoods. Limited infrastructure development, agricultural issues like land degradation and lack of modern farming techniques, coupled with poverty and restricted access to education and healthcare, further hinder economic growth and human development in the region.
Mekong River Delta, often referred to as the “Rice Bowl” of Vietnam, significantly contributes to the country’s economy through agricultural production. Nevertheless, it faces threats from climate change, sea-level rise, and alterations in water flow due to upstream dam constructions.
The challenges are diverse and sometimes interconnected, including environmental degradation, climate change impacts, socio-economic issues, and geopolitical complexities. Addressing these challenges requires a multi-faceted approach with community engagement, governmental management and international collaboration.
In conclusion for the Delta economy, the economic significance of river deltas is a known factor, but their sustainability is threatened by various challenges. A concerted effort involving governments, private sectors, civil society, and international cooperation is crucial to ensure the resilience and long-term economic prosperity.
Archipelagos exhibit a wide range of islands, varying in size, shape and topography. They are crucial for scientific research about unique ecosystem, biodiversity patterns and the impact of human activities. Island types range from low-lying reef islands to uplifted volcanic islands. Compared to volcanic islands, low-lying reef islands have limited agricultural potential and a higher vulnerability to some impacts of climate change.
Malay Archipelago is the largest archipelago in the world contains more than 25,000 islands, part of it has 17,000 islands of Indonesia and 7,000 islands of the Philippines. The second largest Archipelago is Canadian Arctic Archipelago which comprises of 36, 563 islands.
Mergui Archipelago, also known as Myeik Archipelago, is located in the most southern part of Myanmar and has over 800 islands. The archipelago’s virtual isolation from most of mankind’s influence on the natural environment makes the islands and the surrounding waters of the Andaman Sea to be diverse of flora and fauna and is great for diving.
The Maldives Islands is located in the North-central Indian Ocean, southwest of Sri Lanka and India. It consists of 1,190 coral islands, while 187 are inhabited. Unlike other beaches’ sand which has a yellow hue, Maldives have truly pristine, white coralline sand.
The integration of archipelagos for better economic collaboration can be a complex decision that involves geographical proximity, shared economic interests and political will.
To conclude on Archipelago, countries of the Bay of Bengal could collaborate a beneficial integration. With the sustainable ecology, environment and the collected resources, the five countries could set up various business fulfillments and necessary institutions.
Coastal country faces unique challenges and opportunities. Bangladesh heavily depends on the bay for nutrition, shipping, energy, and employment, with a growing coastal economy despite challenges like climate change and governance issues. India’s extensive coastline supports a diverse economy, and it also has challenges such as habitat loss and conflicts among stakeholders. Myanmar’s coastal economy has untapped potential but faces obstacles like political instability and environmental concerns. Sri Lanka’s vibrant coastal economy contributes significantly to the national GDP but contends with issues like coastal erosion and overfishing. Thailand faces challenges like land subsidence and marine pollution but actively engages in regional cooperation through initiatives like the Bay of Bengal Initiative for Multi-Sectorial Technical and Economic Cooperation.
Development of coastal regions vs land regions in the Bay of Bengal Coastal Countries (BBCC)
The development of coastal regions vs land regions in the Bay of Bengal Coastal Countries (BBCC) involves various dimensions, including economic, social, and environmental aspects. The BBCC, comprising Bangladesh, India, Indonesia, Myanmar, Sri Lanka, and Thailand, has a significant and diverse coastal economy that plays a crucial role in their GDP and its employment.
The coastal economy is based on sectors like fisheries, tourism, trade, shipping, energy, and conservation, is also facing challenges such as climate change, natural disasters, pollution, and conflicts. Despite the challenges, there is high potential for growth and regional economic integration by harnessing ocean and coastal resources. Additionally, the BBCC has large and densely populated land regions primarily based on agriculture, industry, and services, contributing significantly to GDP and employment. Developing land regions necessitates a comprehensive approach addressing the needs and interests of land resources and sectors.
Last but not the least, the development of coastal and land regions in the BBCC requires understanding and addressing complex interdependencies and challenges. Integrated and adaptive strategies and policies on Blue Economy, Delta Economy, Archipelago and Coastal economies of the Bay of Bengal Coastal Countries (BBCC) are essential for sustainable coastal and ocean development.
Thank you for your attention.