Blue economy’ is a concept of a sustainable development framework which looks at the oceans as Development Spaces’. In 2010, Professor Gunter Pauli was invited by the United Nations to outline the future of the economy and then he introduced the concept of Blue economy’ as a sustainable and environmentally friendly model. According to him, in the ocean economy along with economic potential, there should be opportunities for the mass people, there should be concern about the environment and there must be innovative and dynamic business thoughts. The Blue economy’ concept was first raised at the United Nations Conference on Sustainable Development in Rio de Janeiro in 2012, where various ideas were meant to build an ocean-based economy for the future. The issue of sustainable development is also inextricably linked with the ocean economy. Bangladesh is a maritime nation, both geographically and historically. Blue economy’ is a concept that can significantly contribute to the socioeconomic development of Bangladesh. In Bangladesh, realizing the enormous potential of the maritime domain, the Father of the Nation Bangabandhu Sheikh Mujibur Rahman enacted ‘Territorial Waters and Maritime Zones Act, 1974′ (Act no. XXVI of 1974). Afterwards the maritime boundary delimitation in 2012 and 2014 with the neighboring countries under the dynamic leadership of Honorable Prime Minister Sheikh Hasina has established its sovereign rights on 118,813 sq kms of territorial sea, 200 nautical miles (NM) of Exclusive Economic Zone (EEZ) and all kinds of animal and non-animal resources under the continental shelf up to 354 (NM). At present the sea resources of the Bay of Bengal can be divided into two categories. Non-living marine resources and living marine resources. Non-living marine resources are basically valuable mineral resources. The Bay of Bengal is also rich in living resources; marine fisheries, sea weeds, plants etc. There are 4 fishing grounds in the Bay of Bengal, where it is estimated that there are about 475 species of marine fishery. There are also about 336 species of snails and oysters, 7 species of turtles, 5 species of lobsters, 36 species of shrimps, 3 species of whales, 10 species of dolphins and 200 species of seaweeds. At present the fishermen of Bangladesh can go only 20 to 50 kilometers in the sea with local boats to catch fish. In other words, a large part of the sea is unknown to the fishermen and marine researchers of Bangladesh. Nevertheless, this issue is certainly not difficult to resolve. However, extraction of marine resources is not an easy task. Exploration, mining, extraction of mineral or other marine resources at sea are all technical matters. So, if we desire today, we can’t start extracting marine resources tomorrow. This requires efficient and sustainable planning. Since the demarcation of maritime territory under the leadership of Prime Minister Sheikh Hasina, visionary Government of Bangladesh has been undertaking several robust initiatives for the development of ocean economy and conservation of marine resources focusing the environmental sustainability as well. Ocean economy has been given priority in the Bangladesh Delta Plan 2100 as well. The plan sets out five strategies to harness the potentiality of the blue economy, one of which is to expedite the completion of a multidimensional survey of marine resources. Recently, in a session of the Virtual Ocean Dialogues’ hosted online by the World Economic Forum and Friends of Ocean Action, held in Swiss city of Geneva on June 3, 2020, Prime Minister of Bangladesh Sheikh Hasina placed a three-point proposal for boosting global cooperation for durable use of ocean and other aquatic resources, urging the world community to renew their commitments for ocean action. PM’s first proposal called for assisting developing countries with critically required resources, capabilities and technologies for leveraging full potential of marine resources. In the second proposal, HE Sheikh Hasina placed emphasis on conducting joint research on fisheries development with a view to significantly increasing regional fish production and eliminating illegal, unreported and unregulated fishing. In the third proposal, PM underscored mapping and management of resource identification and critical coastal habitat and biodiversity protection. Referring to the Covid-19 pandemic, PM mentioned that the pandemic makes all to rethink the linkage between the health of the ocean and the health of humankind as the ocean offers a great source to combat illness. In this connection, PM also stressed implementation of Goal 14 of Agenda 2030, saying it is more critical now than ever.It is needless to say that Bangladesh has a huge possibility to enrich her economy with sea-based resources through ensuring a sustainable balance between the protection of marine ecosystems and marine resources. For the development of the blue economy it is the demand for time to formulate short, medium and long term plans as soon as possible. The relevant ministries, public and private agencies, research and academic institutions need to implement their planned activities and develop further plans for the development of the blue economy in Bangladesh during and post-Covid 19 pandemic situation.Subsequently, coordinated approach among the public and private entities including all relevant stakeholders is essential for the blue growth in Bangladesh to recover the socioeconomic loss due to Covid 19 and lockdown. Regional cooperation and marine diplomacy is vital as well for the sustainable management of ocean resources. A maritime policy can be formulated by reviewing the steps taken by countries that have successfully utilized the marine resources, such as Indonesia or Australia. Bangladesh can create more space to ensure her economic growth through new investments in the maritime industry. The World Bank Group identified that job creation is the pre-condition to achieve middle-income country status for Bangladesh by 2021. So, it is the high time for Bangladesh to use millions of her unemployed youths creating more job opportunities for them. Bangladesh’s government needs to go ahead with public and public-private joint investments through well-timed actions enacting comprehensive rules and regulations to ensure proper use of marine resources at the blue economic zone. If Bangladesh becomes able to utilize her marine resources actively, it is quite possible for her to become a middle-income country even post Covid 19 pandemic situation. We need to conduct extensive research works and build capacity of the human resources for the development of sustainable ocean economy in Bangladesh besides the conservation of ocean resources, so that we can identify and discover need-based solutions on the basis of the persisting constraints in the respective sectors of Blue economy. With this ambition Bangladesh Institute of Maritime Research and Development (BIMRAD)’ an institute patronized by Bangladesh Navy, inaugurated on 03 July, 2018, is fulfilling the aspirations of the nation’s maritime community by creating awareness among them through research, development works, education and capacity building for the best use of the maritime industry of the country. The educational and research institutes related to maritime affairs and security like BIMRAD may come together for the development of a sustainable ocean economy with the cooperation of Govt. and development partners as well. Moreover policy makers, law enforcement agencies concerning maritime affairs and security, all the stakeholders in the maritime industry, academia, researchers, etc. need to pay efforts altogether to flourish the ocean economy or Blue economy in Bangladesh, achieve SDGs and grow mass awareness in this regard. To revive the economy of Bangladesh, to achieve benefits from ocean resources, to ensure environmental sustainability including safeguarding the health of the ocean after the lockdown due to Covid 19 pandemic, we need each other’s cooperation and transparent responsible actions of the majority of the inhabitants.