What is Sunil Economics? Opportunities and challenges

What is Sunil Economics? Opportunities and challenges

A blue economy  is an economy based on marine resources. The economics of exploiting the vast oceans and their subsoil resources. The Sunil Economic Zone ensures a balanced economy of a country.

Marine economics mainly  deals with the sustainable use and maintenance of a country’s marine environment or marine resources. Another name of  this ‘ Sunil Economy ‘ is ‘Sea Economy’. This article discusses the definition, prospects and challenges of green economy.

What is Sunil Economics?

Blue Economy  is a concept that  refers to the sustainable use of marine resources for economic growth, improved livelihoods and job creation while protecting the health of marine and coastal ecosystems. 

According to the World Bank, ” The Blue Economy  is a concept that promotes economic growth, social inclusion, improved livelihoods, and at the same time ensures the environmental sustainability of marine and coastal areas.”

আরো ও সাজেশন:-

The United Nations  refers to the 

blue economy as a range of economic activities related to oceans, seas and coastal zones. An important core of the ocean economy is sustainable fishing, ocean health, wildlife and pollution prevention.

40% of the world’s population  lives near the 

blue economy , more than 3 billion people use the ocean for their livelihoods, and 80% of global trade is achieved using the ocean. Oceans, seas and coastal zones contribute to food security and poverty alleviation.

Number 14 of the Sustainable Development Goals (SDGs) calls for international cooperation on the conservation and sustainable use of oceans, seas and marine resources for sustainable development, and to restore the balance of the oceans.

[ বি:দ্র: উত্তর দাতা: রাকিব হোসেন সজল ©সর্বস্বত্ব সংরক্ষিত (বাংলা নিউজ এক্সপ্রেস)]

Oceans and seas are a key source of food, energy and minerals . There are also fisheries and aquaculture, and the processing and trade of these resources. Maritime transport plays a major role in the global market for containerships, tankers and ports. Sunil Economic Zone is also creating huge potential for the tourism industry which is contributing to the elimination of unemployment.

Prospects and challenges of the green economy

Overall, the Bangladesh Sunil economy has immense potential for economic growth and development while addressing environmental and social challenges. Below are the opportunities and challenges of blue economy in Bangladesh.

Prospects of a bright economy

1. Fisheries and Aquaculture: Bangladesh’s long coastline and extensive river network provide significant opportunities for the development of fisheries and aquaculture. These sectors have made a significant contribution to the country’s economy as well as creating livelihood opportunities for millions of people.

2. Marine Energy: Bangladesh has significant potential to develop offshore wind, wave and tidal energy, which can contribute to economic growth and climate change mitigation.

3. Coastal Tourism: Bangladesh’s long coastline, beaches and cultural heritage offer great potential for developing coastal tourism. This can generate income and employment for coastal local communities. If adequate entertainment and pleasant environment can be provided in coastal areas, the scope of income from this sector will increase further.

4. Marine Biotechnology: The marine region of Bangladesh offers opportunities for the development of marine biotechnology. It can discover new drugs, food supplements and other products.

5. Seafood Processing:  The vast coastline has created possibilities for seafood processing. Exportable marine resources are processed from here. Most of Bangladesh’s fisheries resources come from the Sunil Economic Zone.

Challenges of the Sunil economy

1. Environmental Degradation: Bangladesh’s marine ecosystem faces various environmental challenges, including pollution, overfishing and habitat destruction. These can have significant impacts on marine biodiversity and the long-term sustainability of the marine economy.

2. Climate Change: Sea level rise, natural disasters and ocean acidification are significant challenges for Bangladesh’s green economy.

3. Limited Infrastructure: Lack of adequate infrastructure including sustainable ports, jetties and cold storage facilities may hinder the growth and development of Bangladesh’s blue economy. 

4. Governance and Policy: Limited institutional capacity, weak governance, and inadequate policies may hinder the sustainable development of Bangladesh’s blue economy.

5. Fisheries Management (Monitoring, Control and Surveillance): In spite of adequate marine resources, proper management is hampering the fisheries economy. This challenge needs to be addressed through direct management (eg monitoring, control and surveillance) by the government.

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