International : Dr. Liao Chafang, a professor at Shanghai Ocean University and head of its Department of Applied Economics, has said that international cooperation should be strengthened alongside the exchange of technology, knowledge and experience among countries to promote the sustainable development of the ocean economy.

He made the remarks on Monday while speaking at a session titled “Ocean Economy and Sustainable Development in the Bay of Bengal,” held at Hotel InterContinental in Dhaka.

Dr. Liao Chafang said, “The importance of the ocean economy is growing rapidly around the world. Alongside economic growth, ensuring the sustainable use of marine resources, protecting the environment and promoting the development of coastal communities have now become important challenges.”

He said, “The development of the ocean economy is not merely a matter of economic growth; it is directly linked to the environment, social development and the livelihoods of coastal communities. Therefore, environmental balance and sustainable development must be prioritized in the use of marine resources.”

Drawing on China’s experience, Dr. Liao said, “Research, local-level participation and institutional capacity play important roles in developing the ocean economy. Development plans need to be formulated by taking into account the realities of coastal areas and ensuring the participation of local communities and various institutions.”

He further said, “International cooperation in developing the ocean economy is not limited to technology transfer. It also creates connections among institutions, researchers and relevant stakeholders from different countries and provides opportunities to exchange experience in marine resource management.”

Referring to various initiatives in China involving coastal and marine development, research and local-level participation, he said, “These experiences can also be useful for other countries. In particular, it is essential to coordinate marine resource conservation, coastal development and sustainable economic activities.”

Dr. Liao Chafang said, “The future development of the ocean economy requires the coordinated participation of governments, research institutions, local communities and the private sector. At the same time, enhancing regional cooperation and knowledge exchange among countries can enable the potential of the ocean economy to be utilized more effectively.”

He said, “China itself is also learning from the experiences of different countries and attaches importance to international partnerships in developing the ocean economy. Such exchanges of experience with countries in the Bay of Bengal region, including Bangladesh, could create new opportunities for future cooperation.”

Source: Nahar, Sakib, CMG Bangla.