Tapping country’s maritime resources

President Abdul Hamid on Wednesday said there is no alternative to unlock the huge potentials of the country’s vast sea area while using the maritime resources for the nation’s further development. He came up with the remarks while speaking at a commissioning function of four warships which have been formally handed over to Bangladesh Navy at the Titumir Naval Base Jetty. The president is undeniably correct in his statement. These days it is hard not to be aware of the importance of the sea and the sea bed as sources of energy (oil, gas, tidal power and vital raw materials). There is an apparently endless list of chemical and mineral resources to be found in the seas, everything in fact from thorium to gravel; and already explorations are underway of the ocean beds beyond the continental shelf where yet more of these assets doubtless lie in rich quantities.

In case of Bangladesh, the sea plays an even greater role. Being blocked from three sides, the Bay of Bengal (BoB) in the south is the only exit for us for international trade, and as a source of marine assets. One fifth of the country's total population is directly dependent on the marine or maritime sector for economic activities, ranging from fishing, salt cultivation, shrimp production, other aqua-culture, and oil and gas production. Bangladesh is yet to assess the true potential of its offshore oil and gas prospects. The government is likely to take up a Tk. 1600 crore project to explore the marine resources. Already, presence of uranium, thorium, white clay, glass sand, metallic monazite, zirconium, stornium, rubidium, chromium yttrium, nioblum and ruthium have been detected in the Bay of Bengal. But we are yet to ascertain whether exploitation of these would be economically viable.

Last of all, Bangladesh is amongst the pioneering countries to talk about the sea, marine resources and the concept of Blue Economy. We are fortunate that our honourable Prime Minister has already given her vision on these; and very appropriately termed the BoB as our “third neighbour.” Therefore, we need to move forward and focus on proper planning, acquiring appropriate knowledge and methods for coordinated assessment, exploration and utilisation of marine resources.

 

Tapping countrys maritime resources

President Abdul Hamid on Wednesday said there is no alternative to unlock the huge potentials of the countrys vast sea area while using the maritime resources for the nations further development. He came up with the remarks while speaking at a commissioning function of four warships which have been formally handed over to Bangladesh Navy at the Titumir Naval Base Jetty. The president is undeniably correct in his statement. These days it is hard not to be aware of the importance of the sea and the sea bed as sources of energy (oil, gas, tidal power and vital raw materials). There is an apparently endless list of chemical and mineral resources to be found in the seas, everything in fact from thorium to gravel; and already explorations are underway of the ocean beds beyond the continental shelf where yet more of these assets doubtless lie in rich quantities. In case of Bangladesh, the sea plays an even greater role. Being blocked from three sides, the Bay of Bengal (BoB) in the south is the only exit for us for international trade, and as a source of marine assets. One fifth of the countrys total population is directly dependent on the marine or maritime sector for economic activities, ranging from fishing, salt cultivation, shrimp production, other aqua-culture, and oil and gas production. Bangladesh is yet to assess the true potential of its offshore oil and gas prospects. The government is likely to take up a Tk. 1600 crore project to explore the marine resources. Already, presence of uranium, thorium, white clay, glass sand, metallic monazite, zirconium, stornium, rubidium, chromium yttrium, nioblum and ruthium have been detected in the Bay of Bengal. But we are yet to ascertain whether exploitation of these would be economically viable. Last of all, Bangladesh is amongst the pioneering countries to talk about the sea, marine resources and the concept of Blue Economy. We are fortunate that our honourable Prime Minister has already given her vision on these; and very appropriately termed the BoB as our third neighbour. Therefore, we need to move forward and focus on proper planning, acquiring appropriate knowledge and methods for coordinated assessment, exploration and utilisation of marine resources.