BANGLADESH INSTITUTE OF INTERNATIONAL AND STRATEGIC STUDIES

TOWARDS A SUSTAINABLE BAY OF BENGAL BLUE ECONOMY: ROLE OF BIMSTEC

Author: Moutusi Islam

DOI Link: https://www.doi.org/10.56888/BIISSj2025v46n1a5

ABSTRACT

This paper examines the current trends in blue economy policies among BIMSTEC member states, by analysing national initiatives through four prevailing narratives: oceans as natural capital, oceans as livelihoods, oceans as good business, and oceans as innovation, as identified by Michelle Voyer et al. The analysis reveals a diverse yet interconnected landscape, with each country’s blue economy policy shaped by unique socio-economic and environmental contexts. While BIMSTEC countries share common concerns such as sustainability, marine pollution, livelihoods and marine spatial planning, they diverge in areas such as business-oriented growth, security priorities, ecosystem management and valuation studies. Key challenges to blue economy implementation in the region include inconsistent policies, overlapping regional frameworks, maritime security issues, inadequate funding, limited infrastructure, and political tensions. To address these obstacles, the paper offers policy recommendations such as formulating a consistent definition of blue economy, developing an accounting framework, harmonising policies, enhancing capacity building and technical assistance, fostering maritime security cooperation, aligning with other regional blue economy initiatives and creating a comprehensive BIMSTEC Blue Economy Plan of Action.