The Bangladeshi shrimp industry brings substantial economic benefits to the Bangladesh economy, as well as significant, negative socio-economic and environmental externalities. Despite numerous domestic environmental protection laws on the shrimp industry, serious concerns regarding biodiversity and coastal protection remain in the efforts to promote a sustainable shrimp industry. These issues present several impediments to improved environmental outcomes, as well as to compliance with key multilateral environmental agreements (MEAs) entered into by the Bangladeshi government. This article examines the key environmental legislation regulating the domestic shrimp industry, and analyzes the industry's compliance with MEA obligations. This article also recommends potential areas for domestic reform to improve compliance and to promote a sustainable shrimp industry for Bangladesh.