Good Governance in Exploration and Exploitation of Marine Resources

Rear Admiral M Khurshed Alam, M.Phil., ndc, psc (retd)

Good Governance in Exploration and Exploitation of Marine Resources

Rear Admiral M Khurshed Alam, M.Phil., ndc, psc (retd)
Secretary, Maritime Affairs Unit of the Ministry of Foreign Affairs of Bangladesh

Keywords: Blue, Economy, Sustainable, Food, Security, Development, Good, Governance,

Abstract

Marine resources have been the key to many coastal countries for progress, prosperity, livelihoods and the blue economy, which in turn generates sustainable food security, trade and tourism enterprise at local, national and international levels. 72% of the Earth's surface is not subject to sovereign administration and remains an anarchic space. The exploration and exploitation of marine resources, both living and non-living, have many challenges like environmental, technical, legal, scientific, etc. New technol- ogies pose serious challenges to the notion of High Seas Freedom. As a result, there are increased trends of competition at national, regional and international waters, which may strongly need an equilibrium on the impor- tance of good governance at sea. Over the years, UNCLOS 1982 and other international maritime laws have been considered as pivotal instruments for all to ensure such governance, although, there are criticisms of the lack of trust, transparency and political assurance. We need to foster more informed stewardship and innovative use of the blue economy/marine resources, within the overarching context of sustainable development. There must be greater integration of efforts and information to promote the sustainable development of the ocean resources and it must be based on open and greater communication networks among all stakeholders. The challenge is to coordinate all such endeavours within a broad framework based on the best available information, including on the needs of the region and its future prospects with respect to the sustainable development of its ocean resources/blue economy.

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