The main objective of this paper is to identify an appropriate policy framework for the development of aquaculture and its contribution to overall economic development. The second section of this paper examines the performance of aquaculture sector in Bangladesh, the Philippines and Thailand. These three countries represent diverse technological, socio-economic and institutional environments. The third section discusses aquaculture policy in these three countries whilst the fourth section attempts to identify policy measures needed for sustainable aquaculture growth in Asia. Concluding remarks are given in the final section.