June 6, 2006

 

FAO says fishery exports generate wealth for developing countries

 

 

Although revenue from fish exports are helping to provide food security in the developing world, good management is essential if they are going to continue to benefit over the longer term, FAO said Monday (Jun 5).

 

An FAO report said that the fish trade, worth around US$71 billion annually, has no detrimental effect on fishery supplies in poor countries.

 

The UN agency told delegates from the 60 governments participating in the tenth meeting of its Sub-Committee on Fish Trade that growing export earnings had increased employment, raised incomes and improved government services in these countries. 

 

The value of the international fish trade increased from US$15.5 billion in 1980 to over US$71 billion in 2004, according to FAO. Developing countries have been the main beneficiaries, with their net earnings increasing from US$3.4 billion to over US$20 billion over the same period.

 

For developing countries, income from fishing exceeds the net foreign exchange revenue they earn from any other food commodity.

 

However, FAO also cautioned that good management is essential if developing countries want to benefit over the long term.

 

Increasing international demand can lead to the over-fishing and wasteful use of stocks, warned Grimur Valdimarsson, Director of FAO's Fisheries Industry Division.

 

Meeting demand must be balanced with sustainable management if developing countries want to continue to benefit this way, he added.

 

Currently, around 77 percent of fish consumed worldwide is supplied by developing countries.

 

Japan, accounting for some 18 percent of all imports is the world's largest importer of fish and fish products, followed by the United States, Spain and France.

 

The FAO also discussed the use of "eco-labels" to promote trade in responsibly harvested fish and the creation of traceability systems.