Somalia: Federal member states agree to share fishing revenues

Somalia

VICTORIA, Seychelles- A brokered talks over tuna fishing revenues between Somalia's Federal government and Federal member states was reported held in Seychelles in May 5, Garowe Online reports.

Delegates from the ministries of fisheries from regional administrations and representatives from the Federal government were at a meeting to ink a deal on sharing tuna fishing revenues.

Sources in the meeting confirmed to GO that Federal member states have agreed to sign the agreement, amid disapproval from the Somali Federal government over the sharing quota.

A consortium of international organizations; FAO, UNODC, Secure Fisheries and USAID were reported to jointly organize the event, to create source revenue for the Federal government from the fishing trade off Somalia’s coast by the International companies.

The sources added that the first phase of the talks took place in Mogadishu last month, and ended without agreement, before it was moved to Victoria, the capital of Seychelles.

Western corporations are seeking to utilize the tuna reserves in the waters of Somalia, a lucrative trade globally amid high demands and soar prices. Those companies are aiming to obtain legal permits from the Federal government and Federal member states for tuna fishing by paying taxes.

GO has learnt that the Federal Government refused the proposed 30-percent from the revenue generated, whereas the regional administrations will get the remaining 70-percent after being deposited in Somalia’s Central Bank.

Illegal and unregulated fishing practices by foreign trawlers was reported to cause loss of millions dollars of income revenues to Somalia and destroying the livelihoods of coastal communities that led to the re-surge of piracy off the coast of Somalia.  

GAROWEONLINE