Abstract:
Blue Economy will provide an extensive framework for cooperation in the field of Ocean
Economy among SAARC countries for sustainable development in the Bay of Bengal and
Indian Ocean Region. It embraces mutually valuable cooperation for exploration and capacity
development in the field of marine resources, green tourism, fisheries, research and
development of ocean technology, exchange of experts, food security, enhanced trade and
investment; enhanced maritime connectivity; enhanced diversification; job creation and socioeconomic
growth, underwater energy, aquatic ecosystem, seaweed culture and other related
activities. To harness the vast economic opportunities Blue Economy has opened up many
ways for future regional cooperation. Since the sea offers connectivity at the domestic level
and with international markets for export and import of goods Blue Economy will definitely
act as the key channel of South Asian regional cooperation. Along with this, offshore mineral
resources such as oil and gas covered with Indian Ocean and Bay of Bengal can contribute to
the economic wellbeing of SAARC Countries,. Blue economy transforms the ocean resources
into development tools. The realm of Indian Ocean region and Bay of Bengal has turned into a
synonym of economic and strategic connotation. Settlement of maritime boundary disputes and
the propagation of potentials of blue economy prospects will lead the countries of SAARC
toward economic growth. In this regard this article will seek to understand the blue economy
initiatives undertaken by SAARC countries, prospect of strengthening regional cooperation
through blue economy, and the China factor
