-initiative could save millions, Jagdeo says

GUYANA loses some $100 million yearly as a result of illegal fishing in its waters and to address this, the government is considering the implementation of a licensing regime.

Speaking at his weekly press conference on Thursday, the People’s Progressive Party (PPP) General Secretary and Guyana’s Vice-President, Dr Bharrat Jagdeo said that while more investments in the country’s maritime assets are being made, a system to keep illegal fishing at bay could come on stream.

“It is estimated that we could lose as much as $100 million per year from illegal fishing in our waters, but this is in the deep seas though. So, investing in more assets for the army would have that significant benefit of bringing in revenue, even if it doesn’t allow us to bring in revenue, because they can keep the illegal fishing out…so that we can actively exercise a licensing regime, so that there’d be more revenue for the country,” the Vice-President said.

Earlier in the week it was announced that Guyana would acquire maritime assets from France to boost the country’s capacity.

Back in November 2023, the Ministry of Agriculture had outlined a National Plan of Action to prevent, deter, and eliminate illegal, unreported, and unregulated fishing.

“There is a continued demand for fish and fish products, owing to the massive expansion of our global population. Fish has emerged as an important commodity for the achievement of food security. However, we are cognisant of the fact that our efforts to ensure the sustainability of the fishing industry face significant threats such as climate change and illegal, unreported, and unregulated fishing. The Government of Guyana continues to invest heavily in proactive initiatives that ensure Guyana is on a sustainable path to being a food-secure nation. This plan of action, therefore, strives to promote long-term conservation and the sustainable use of our fisheries resources,” Guyana’s Agriculture Minister Zulfikar Mustapha had said.

The framework aims to provide a targeted approach towards fisheries monitoring, control, surveillance, and enforcement, given the nature of the fisheries and the limited human and financial resources.
According to the United Nations Food and Agriculture Organisation (FAO) illegal, unreported, and unregulated fishing activities are responsible for the loss of 11-26 million tins of fish each year, which is estimated to have an economic value of US $10 – 23 billion. In order to combat this, Sustainable Development Goal Number 4 urges the international community to effectively regulate harvesting and end overfishing, illegal, unreported, and unregulated fishing and destructive fishing practices.

Back in 2021, the Fisheries Department began working with the Caribbean Regional Fisheries Mechanism (CRFM) to develop Guyana’s National Plan of Action for the fight against Illegal, Unreported, and Unregulated (NPOA-IUU) Fishing. This NPOA would be based on the principles of the Regional Plan of Action (RPOA-IUU), which seeks to assist its member states in implementing the foremost measure in the RPOA-IUU.