The global fish market is big business—worth a staggering $137.7 billion annually. Management of the world’s fisheries, like many of our precious natural resources, is a challenging and complex system, driven by factors of territory, conservation, culture and revenue.
In the Pacific, ensuring the long-term sustainability and viability of coastal and oceanic fisheries—both as a source of food and a source of significant income—is a key challenge. Pacific Island governments are increasingly taking a regional approach to the management of these resources and acknowledging the need to capture a greater share of fishing revenue, while protecting the region’s environment.
How can governments and private industry work together to ensure the sustainability of fisheries? Are there other ways Pacific Island countries can capture a greater share of the revenue earned from fish captured in their waters? And is regional cooperation between nations the best way forward?
John Virdin, director of the Ocean and Coastal Policy Program at Nicholas Institute for Environmental Policy Solutions, is among the panelists in this World Bank sponsored event. Auskar Surbakti of the Australian Broadcasting Corporation will moderate the panel. Follow the conversation on Twitter with the hashtag: #PacificPraxis.