Utilisation of deep sea fisheries resources being explored

Georgetown, GINA, April 01, 2008.

Government recognises the important role of the fisheries sector to the national economy and is pursuing various measures to support its continued development, including exploring the utilisation of deep sea resources.
            This was highlighted by Minister of Agriculture Robert Persaud during his address to fisheries stakeholders at the launch of the Anti-Piracy Revolving Fund on March 31 at the Carifesta Sports Complex, Carifesta Avenue, Georgetown.
            “Directly, our fisheries sector affects about 13, 000 households in our country. It is a significant contributor to our Gross Domestic Product and a major foreign exchange earner, in excess of US $55 million at times. So it is a significant player in our economic development and we are looking at various ways in which we can expand that contribution,” the Minister said.
In this regard, the Fisheries Management Plan (FMP) was developed and is being implemented with focus on all aspects of the sector including the promotion of aquaculture to diversify production, increase export earnings and reduce pressure on marine resources.   
            In addition, during last year the National Fisherfolk Organisation was launched to promote management of the fisheries sector to enhance sustainable utilisation of marine resources while the Fisheries Advisory Board was initiated to help revamp the fisheries sector.
            Minister Persaud also pointed out that a plan has been developed for a comprehensive restructuring of the fisheries sector with emphasis on its management and regulation.
The plan is currently being reviewed by Cabinet while a national consultation is expected to take place shortly to garner stakeholders’ view on the exploitation of deep sea resources.
            “We have always talked about countries that experience the green revolution, for us if we are able to tap fully that vast potential, it will give a lot of life in our quest to fully engage in what we consider to be that blue revolution that we need to embark on,” he explained.
            Additionally, through collaboration with the Ministry of Finance, efforts have been made toward removing Value Added Tax (VAT) from certain basic items used in the fisheries sector.
              The fishing industry employs close to 13,000 people and serves as a main source of animal protein. It embraces both large and small-scale activities and is therefore, an important contributor to social stability and economic diversification.
The fisheries sector is made up of three main components – marine, aquaculture and inland fisheries, although activities are mostly concentrated on the continental shelf and to a minimal level on the continental slope.
Estimated per capita annual consumption of fish rose from nine to 27 kilogrammes between 1980- 1988, 45 kg in 1991 and reached 58.7 in 1999. Exports of marine products from Guyana have increased from 11, 627 tonnes in 1998 to 21, 901 tonnes in 2003.  

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