Cook Islands likely to keep hauling more fishing revenue

Transcript

New purse seine partnerships could boost the Cook Islands' fisheries revenue by nearly 50 percent.

Over two thirds of the 9.8million US dollars in fisheries revenue for the last financial year came from purse seine fishing.

Funds have steadily increased since a jump from 5.6 million in 2013 to 12.6 million in 2014.

The secretary to the Ministry of Marine Resources, Ben Ponia, told Daniela Maoate-Cox the trend will likely continue and exceed 14.4 million US dollars in a short time.

BEN PONIA:  We were fairly conservative in our forecast.  We were estimating at least 8.9 million, having returned 13.6 million is a bonus, a windfall and that's 5.5 million more than the forecasted amount.    

DANIELA MAOATE-COX:  And is that due to a cheque for a share of dividends from the US fisheries treaty?  Is that really what pushed it over the forecast amount?

BP:  That did contribute however in 2015 we entered into bilateral purse seine fishing arrangements with Kiribati, a Korean fleet and these additional arrangements possibly made the difference although revenues coming from the US fisheries treaty was also a significant contribution.

DMC:  How long do you think this will last?  Do you think it's likely to increase?

BP:  Yes.  We are on a trajectory if you will.  I imagine in a very short amount of time we will be exceeding 20 million. Provided the whole fishery can come to an equilibrium there is no reason why this level of fishing can't be sustained and the level of revenues exceeded.

DMC:  The Cook Islands has 1250 fishing days, how many of those have been sold?

BP:  That's an annual quota and in 2015 we sold much less than the 1250 days that were provided for by the regional fisheries management body that is the Tuna Commission so on that basis alone and given the purse seine fishery is the main contributor for revenue, we think there is scope for growth, more partnerships and more revenue.

DMC:  How many were sold in 2015?

BP:  Around 400 days.

DMC:  And who would you need to partner with?

BP:  We are currently looking at the European Union as another partner.  It's an operation that is working around our workers.  It would be compatible with the existing fishery that we have.

DMC:  The agreement with the European Union, it hasn't been without controversy and some people have protested about that, what stage is it at now?

BP:  It is still waiting for the Prime Minister's signature.  We are still working through those processes.

DMC:  When do you think it will be completed?

BP:  I don't really have any idea.

DMC:  What's the hold up on that?

BP:  Well, as I said, we are working our way to explaining generally to our public about the purse seine fishing issue.  Parliament has recently formed a select committee to also look at the purse seine fishing and I think it's prudent that there is a very sound understanding about what we are trying to achieve here.  At the same time we are demonstrating some results in the amount of revenue that is being generated.  We can demonstrate the management processes we have in place already and existing fishery for explaining the regulations that apply at the regional level and altogether we want the public and the decision-makers to understand that we can sustainably manage the fishery.    

Ben Ponia says the EU agreement would use about ten percent of the Cook Island's fishing days quota and produce about 7 million US dollars over four years.