Source: Islands Business
Solomon Islands will earn more than USD 40 million when Korean fishing vessels renew their licenses to fish in the country’s waters for 2013.
The announcement comes after negotiations in South Korea last week led by the Minister for Fisheries and Marine Resources, Alfred Ghiro, reports the Island Sun.
Fisheries and Marine Resources Ministry Permanent Secretary Dr. Christian Ramofafia, who supported the Minister during the negotiations, said this is an outstanding performance by the Minister and the negotiations team.
It is the first time Solomon Islands has increased the price of its fishing days from the current regionally agreed benchmark price of USD 5,000 under the Parties to the Nauru Agreement (PNA) Vessel Day Scheme (VDS).
The VDS is a fisheries management tool for purse seine fishery as a conservation and management measure for Bigeye and Yellowfin Tuna in the Western and Central Pacific Ocean and implemented by PNA.
Under the Vessel Day scheme, vessel owners can purchase and trade days fishing at sea in places subject to the Exclusive Economic Zones (EEZ) of PNA member countries such as Solomon Islands, Papua New Guinea, Nauru, Kiribati, Palau, Federated States of Micronesia, Marshall Islands and Tuvalu.
The purpose of the VDS is to constrain and reduce catches of target tuna species, and increase the rate of return from fishing activities through access fees paid by Distant Water Fishing Nations (DWFNs).
The total allocation of fishing days is set and apportioned between Pacific Island members for one-year periods up to three years in advance.
Since Solomon Islands is a member of PNA, the VDS is used with issuance of license for purse seine fishing.
This is for vessel owners recognized by Solomon Islands under multilateral agreement and administered by the Forum Fisheries Agency (FFA).
Dr. Ramofafia said the deal made with Korea will set the benchmark for the Ministry’s upcoming negotiations with Japan, Taiwan and New Zealand before the end of the year.