The potential of ocean resources is vast
Bangladesh is proud to have become not only a member of the Council of the International Seabed Authority (ISA), but also its current president.
Our membership in the ISA, which is mandated under the UN Convention on the Law of the Sea to organize, regulate, and control all mineral-related activities in the international area for the benefit of mankind, is an opportunity for us to fully utilize the resources of our sea.
As a growing economy looking to diversify its industries and move away from relying on old-school stalwarts such as RMG and remittance, it is imperative that we recognize the vast potential of our riverine nation and our proximity to the Bay of Bengal.
We must continue to seek avenues through which our growth can be supplemented, and the immense resources available underneath the seabed within and surrounding our nation are one amongst many paths for us to take in order to ensure that our dream of middle-income status becomes a reality.
In order for us to achieve this, it is essential that we receive access to marine resources, especially in areas beyond our jurisdiction, and membership in the ISA is the just ticket we need in order to remove that obstacle.
Our role as president of the ISA and subsequent realization and utilization of the potential of this role will be crucial in our journey towards strengthening the blue economy, and create another source of resources that will ensure that our development is indeed sustainable, and ever-progressing.
The potential of ocean resources is vast; there is no reason why they should remain unexplored.