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Rethinking fisheries policy in the Pacific

CollectionsANU Resources, Environment & Development Group (RE&D)
Title: Rethinking fisheries policy in the Pacific
Author(s): Pretes, Michael
Petersen, Elizabeth
Keywords: fisheries policy
tuna fishing
public investment
offshore investment
trust fund
private sector initiatives
Publisher: Canberra, ACT: Resource Management in Asia-Pacific Program (RMAP), Division of Pacific and Asian History, Research School for Pacific and Asian Studies, The Australian National University
Series/Report no.: Resource Management in Asia-Pacific Program (RMAP) Working Paper: No. 39
One of the most hotly debated issues of fisheries policy in the Pacific is whether or not public funds should be used to finance commercial tuna fishing ventures. Many commentators from within the region argue for public investment in the industry to stimulate domestication. In this paper we propose an alternative policy in which tuna fishing revenues are invested offshore through a trust fund, rather than re-invested in domestic commercial fishing activity. Trust fund earnings could then be used to stimulate and support private sector initiatives and alternative economic activities. We use the example of Kiribati, one of the poorer Pacific island countries, to illustrate how offshore investment through a trust fund has succeeded in generating substantial revenues, when most Kiribati government corporations, including a state-owned fishing enterprise, have performed poorly.
ISSN: 0308-597X


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