New Zealand Prime Minister John Key has announced that the country will invest $50 million over the next three years to support the transformation of the Pacific fisheries sector.
“Fisheries are the most important natural resource for the majority of Pacific nations and more must be done to conserve stocks and boost returns from this resource,” Mr Key said.
He said that while there has been an increase in the amount of fish caught in Forum Fisheries Agency waters since 2012, the value of key fisheries has fallen by just over 20%. This has led Pacific Governments to look for new approaches to lift returns and safeguard fisheries for future generations.
Pacific leaders have endorsed ‘A Roadmap for Sustainable Pacific Fisheries’ which promotes a move towards a catch-based management system for tuna by 2025. New Zealand has experience in implementing catch-based management systems, and has committed to sharing its knowledge and experience with the Pacific.
“The funding announced today will support the development of a framework for a catch-based management system, and support Pacific nations to improve their legal and management systems around fisheries” said Mr Key.
New Zealand will also invest in the monitoring and enforcement systems required to protect Pacific fish stocks.
