The government is working on the formulation of a law to set up the Blue Economy Authority, Prime Minister Sheikh Hasina said.
Following the verdicts of maritime boundary dispute cases, the government formed a Blue Economy Cell under the Power and Energy Division to strengthen the activities related to it, PM Hasina told the House on Wednesday.
Citing settlement of maritime boundary disputes with India and Myanmar a diplomatic success, the premier said, “Bangladesh is the first nation in Asia to set an example to settle conflicts with neighboring countries peacefully.
“In line with these verdicts, we have acquired 118,813 square kilometers of sea area in the Bay of Bengal, which is nearly equal to 81 per cent of our land mass,” she said.
Citing blue economy carries huge potential, “We have identified it as a new sector of growth.”