Synergetic blue and mountain economy for sustainable development in BIMSTEC region

Synergetic blue and mountain economy for sustainable development in BIMSTEC region

The convergence of the blue economy and mountain economy presents unparalleled opportunities for sustainable development, especially in the case of Bhutan. Both economies, though distinct in their environments, share common challenges and potentials, that can be leveraged to create synergistic growth. During the Bay of Bengal Initiative for Multisectoral Technical and Economic Cooperation’s (BIMSTEC) Business Summit that was in held in Delhi, India at the beginning of August, business delegates have discussed about harnessing the synergies between these two economies.

Blue Economy

The blue economy, encompassing the sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystems, is a crucial pillar for many BIMSTEC nations. This sector includes fisheries, maritime transport, tourism, renewable energy, and biotechnology, among others.

According to the World Bank, “The Blue Economy is sustainable use of ocean resources for economic growth, improved livelihoods and jobs, while preserving the health of marine and coastal ecosystem.”

The blue economy is a concept centered around the sustainable utilization of ocean and marine resources, aiming for economic growth, enhanced quality of life, and job creation while simultaneously safeguarding the health of marine ecosystems. This multifaceted approach includes an array of economic activities that are vital to coastal communities and the global economy.

Among these activities, fisheries and aquaculture stand out, emphasizing the importance of responsible fishing methods and the cultivation of seafood through sustainable practices. Additionally, maritime transport plays a crucial role by facilitating the shipping and movement of goods across the vast oceans, ensuring global trade flows efficiently.

Tourism is another key component, focusing on environmentally friendly and sustainable coastal and marine tourism that allows individuals to appreciate the beauty of the oceans without causing harm to delicate ecosystems. The blue economy also encompasses renewable energy, particularly through the harnessing of offshore wind, wave, and tidal energy, which contribute to cleaner energy sources and reduced carbon footprints.

Furthermore, marine biotechnology involves the exploration of ocean resources for various applications, ranging from medical advancements to industrial uses and agricultural enhancements. The sustainable extraction of mineral resources from the seabed is another aspect of the blue economy, ensuring that valuable materials are obtained without compromising ocean health.

Ultimately, the blue economy strives to strike a harmonious balance between fostering economic development and the imperative need to protect and restore the oceans and the livelihoods that depend on them. It champions innovative business practices, forward-thinking policies, and targeted investments that respect and operate within the ecological boundaries of oceanic environments.

Mountain Economy

The mountain economy refers to the economic activities and livelihoods that are specifically related to mountainous regions. These areas have unique ecological, cultural, and economic characteristics, and the mountain economy focuses on leveraging these features while addressing the challenges posed by the often harsh and fragile environments.

Mountains and hills are also important sources of clean energy for the lowlands, containing most of the region’s existing and potential hydropower production. According to the International Centre for Integrated Mountain Development (ICIMOD), “Products and services from the mountains and hills form the basis of many economic sectors including agriculture, forestry, pharmaceuticals, rangeland production, tourism, and biodiversity conservation.”

The mountain economy is characterized by a diverse range of sustainable activities tailored to the unique challenges and opportunities presented by high-altitude and steep terrain environments.

The delegate presented that an agriculture and livestock play a vital role, focusing on practices like terrace farming, horticulture, and the raising of livestock, all adapted to thrive in mountainous conditions. In addition, tourism contributes significantly, with eco-tourism, adventure tourism—which includes trekking, mountaineering, and skiing—and cultural tourism that highlights the stunning natural landscapes and rich cultural heritage of these regions.

Forestry is another key component, involving the sustainable management of mountain forests to provide timber, non-timber forest products (such as medicinal plants), and essential ecosystem services. The management of water resources is critical as well, overseeing freshwater systems, including glacial and river sources, which are essential for the communities located downstream.

Moreover, the generation of renewable energy is increasingly important in mountainous areas, utilizing hydropower, wind, and solar energy to harness the natural elements effectively. The handicrafts and traditional industriessector thrive with the production of distinctive local goods, from textiles to crafts and foods, all reflecting the cultural legacy of mountain communities.

Biodiversity conservation is crucial to preserving the unique ecosystems found in mountainous regions and utilizing this biodiversity for sustainable development. Furthermore, the mountain economy addresses the pressing need for climate adaptation and resilience, responding to the challenges posed by climate change, including glacial melting and altering weather patterns, which impact local communities and economic activities.

Overall, the mountain economy emphasizes a commitment to sustainable development that honors both the environmental and cultural integrity of mountainous areas, ensuring that economic initiatives enhance the well-being of local communities while preserving the region’s natural beauty.

One of the business delegates from Bhutan during the summit, Lily Wangchuk said that the private sector has a pivotal role to play in harnessing the synergies between these two economies. By investing in innovative solutions and fostering cross-sector collaborations, businesses can drive sustainable growth and address critical environmental and socio-economic challenges.

The synergy between coastal and mountainous regions presents numerous opportunities for advancing sustainable development across various sectors.

Sustainable tourism emerges as a key area, with integrated packages combining coastal and mountain experiences attracting more visitors and extending their stays. Collaborative marketing and shared infrastructure can enhance the tourism value chain, boosting local economies through job creation and increased income.

In terms of renewable energy, coastal areas are well-suited for wind and tidal energy, while mountainous regions offer strong potential for hydropower. Investments in offshore wind farms and hydropower can deliver sustainable energy solutions, reduce carbon emissions, and bolster energy security. The complementary nature of these energy sources can ensure a stable energy supply, particularly during dry spells when hydropower may decrease.

Agriculture is another sector poised for collaboration, as diverse farming practices from aquaculture to high-altitude farming can benefit from mutual knowledge sharing and sustainable practices. This collaboration can bolster food security, celebrate local cuisines, and enhance biodiversity.

Marine and freshwater conservation initiatives that involve the private sector, such as sustainable fishing and watershed management, are vital for maintaining healthy ecosystems in both environments.

Climate resilience can be strengthened through investments in infrastructure and technologies, including early warning systems for natural disasters and climate-adaptive practices.

Technology and innovation play essential roles in improving the efficiency and sustainability of both economies. Tools like satellite imaging, advancements in sustainable aquaculture, and platforms for sharing best practices can facilitate meaningful progress.

Biodiversity conservation is crucial, as rivers connecting both regions sustain diverse ecosystems. Integrated programs that protect these waterways are necessary for preserving biodiversity and enhancing ecosystem services.

Embracing digital technologies can promote connectivity between coastal and mountain communities. Digital platforms for information exchange, e-commerce opportunities, and tools for resource management and disaster preparedness can bridge geographical divides. Investing in digital infrastructure and skills can support a collaborative approach to sustainable development in the BIMSTEC region, fostering a stronger, interconnected community.

BIMSTEC has unique opportunities of development by virtue of being connected by mountains, rivers and sea. Several Member States are connected by the Bay of Bengal, which has been the central point of connect for trade, commerce and culture for centuries. It is the gateway to the Indian Ocean for most of the BIMSTEC countries. Nepal, Bhutan and India have large geography covered by mountains. Hence the potential of Blue Economy and Mountain Economy needs to be exploited optimally.

Ameet, an official from the Confederation of Indian Industries said that the BIMSTEC has unique opportunities of development by virtue of being connected by mountains, rivers and sea. Several Member States are connected by the Bay of Bengal, which has been the central point of connect for trade, commerce and culture for centuries. It is the gateway to the Indian Ocean for most of the BIMSTEC countries. Nepal, Bhutan and India have large geography covered by mountains. “Hence the potential of Blue Economy and Mountain Economy needs to be exploited optimally,” he said.

By Sangay Rabten, Thimphu