Maintaining and restoring ocean ecosystems – or ‘ocean health’ – is synonymous with growing ‘ocean wealth,’ according to a soon-to-be published report by the World Bank and European Union. With rapid population growth, limited land and fewer terrestrial resources to house, feed and provide citizens with their energy needs, coastal nations across South Asia are looking seaward. In doing so, countries are clueing in on the fact that sustainably managing and developing ocean spaces is critical to a nation’s economic advancement.
Thinking Blue - thinking how best to sustainably tap ocean spaces as new sources of sustainable growth and transition to a blue economy - is new, although South Asian nations have used the sea for food and trade for centuries.
Five years ago, the term ‘blue economy’ had nothing to do with oceans; few had an inkling of its emerging importance.
In late 2017, at the Second International Blue Economy Dialogue hosted by the Government of Bangladesh in Dhaka, interest in what the blue economy is and why it matters is at an all-time high and rising. Perhaps this not surprising.