Proper utilisation of maritime resources available in South Asia can help the region achieve tremendous success in socio-economic development of the people, Prime Minister Sheikh Hasina said yesterday.

The maritime sector in South Asia has huge potential, she said.

It is possible to take a big leap in the socioeconomic development of the people by utilising the potential, Hasina said.

The prime minister was addressing the inauguration of a two-day second South Asia Maritime and Logistics Forum 2018 at hotel Le Meridien Dhaka.

She said Bangladesh has already settled maritime boundary disputes with two neighbours - with Myanmar in 2012 and with India in 2014 - through which it reclaimed 118,813 square kilometres of the Bay of Bengal.

"The total area of resources includes 200 nautical miles of exclusive economic zone and over 354 nautical miles of resources on seabed. ”

It is estimated that the resources from the sea of Bangladesh constitute 81 percent of the resources existing in its land territory, the premier said.

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She said the South Asian geographic region has been in focus in recent times because of global economic growth, trade and market expansion which in turn creates a huge opportunity to expand logistics and maritime-related services.

"With the increasing economic growth of the country, international trade is increasing day by day through the waterways."

The prime minister said the government has adopted the Blue Economy policy to utlise this huge resource in the country's socioeconomic development. "I think by utlising the resources, we could be able to expedite our socioeconomic development further."

She also mentioned that the government, in cooperation with the government of the Netherlands, has prepared and endorsed the Bangladesh Delta Plan 2100.

The country faces major interrelated delta challenges in water safety, food security and socioeconomic development and is prone to natural calamities such as flood, cyclone and drought, she said.

"One of the main components of Delta Plan is to accelerate the GDP growth through proper utilisation of water resources."

Shipping Minister Shajahan Khan presided over the programme where Indian State Minister for Road Transport and Highways, Shipping, Chemical and Fertilisers

Mansukh Laxmanbhai Mandaviya and Sri Lankan State Minster for National Policies and Economic Affairs Harsha De Silva also spoke.

The South Asia Maritime and Logistics Forum 2018 is being held for the second time. The first conference was held in Mumbai, India.

The conference is a joint initiative of the shipping ministry, India's Gateway Media Private Ltd and Sri Lanka's Colombo Maritime Conference Events to increase regional cooperation for developing infrastructure in the shipping sector and maritime logistics.

Around 120 government and private representatives from 20 countries, including India, Sri Lanka, Myanmar, Nepal and

Bhutan, are participating in the two-day conference.

The participants are discussing obstacles to development of ports in South Asia and how regional trade among the countries can be improved by using the ports, ways for development of the shipping sector in Bangladesh and prospects for investment in the sector.

In five business sessions, there will be discussion on port infrastructure in South Asia, cargo transportation system, dredging, shipbuilding and intra-regional trade.

Besides, businessmen from Bangladesh and other countries are scheduled to hold one-on-one meetings on trade prospects on the sidelines of the conference.