Bangladesh seeks ISA support to realise blue economy’s potential

14 Jul 2020 1:20 PM
Image collected
Bangladesh offers sought cooperation from International Seabed Authority (ISA) to carefully turn blue economy seeing as new tool of its socio-economic expansion through unleashing huge probable of ocean resources.

‘To fully realise the potentials of the Blue Market for our socio-economic advancement, we would require access to equitable sharing of marine means, specifically in areas beyond national jurisdiction,’ Bangladesh long term representative to the UN ambassador Rabab Fatima said.

Fatima was speaking in the ‘Ambassadorial Briefing on Equitable posting of benefits from sustainable expansion of seabed resources: Prospects for LDCs, LLDCs and SIDS’ held in NY on Thursday, according to a message received found in Dhaka on Saturday.

The ambassador said that Bangladesh was prioritising on unleashing the full potentials of ocean resources and has made the Blue Overall economy the new frontier.

She stressed the necessity of the growing countries to get support for capacity construction and knowledge transfer, particularly in the sort of training, secondment of technical staff, facilitating research and studies.

She also put importance on investment in growing countries to explore the sea resources for their development.

The long lasting representative reiterated Bangladesh’s commitment to working closely with ISA.

Organised jointly simply by the International Seabed Authority (ISA), and the chairs of LDCs, LLDCs and AOSIS, the objective of the high-level event was to brief member states about the initiatives taken simply by ISA to make sure equitable sharing of benefits from the creation of deep sea-bed methods.

ISA secretary-standard Michael W Lodge briefed the ambassadors of different countries about various do the job done by the ISA which includes regulatory framework for deep sea mining, exploration of mineral resources and building capacity to address needs of LDCs, LLDCs and SIDs.