China, Singapore markets potential huge: Ilakini

By NATHAN WOTI
A CONSULTATION between the National Fisheries Authority (NFA) and key Singapore and China market players will benefit more than 80 per cent of fish farmers in the country, an official says.
managing director Justin Ilakini emphasised the importance of diversifying PNG’s fisheries exports beyond its traditional markets.
While acknowledging the European Union’s significance in terms of value and quantity, especially for tuna, Ilakini stressed that tapping into China and Indonesia could significantly boost the development of PNG’s non-tuna sector.
“Despite the tuna industry’s prominence, the majority of participants in PNG fisheries sector are engaged in other activities such as coastal and inland fishing or aquaculture, reflecting the diverse opportunities awaiting exploration,” he said.
“This consultation is an indication to all our operators in the fisheries sector that the fishing industry has now broadened.
“This marks an important milestone in terms of how our non-tuna industry will be heading toward.
“This consultation will result in first step toward creating a policy framework to guide this important industry,” Ilakini said.
He said PNG boasted nearly 200 fishing companies operating across various sectors, with thousands more involved in aquaculture as farmers.
The fisheries sector generates about K5 billion and NFA is aiming to quadruple its value to K20 billion, aligning with the Government’s ambitious target of growing the country’s economic value to K200 billion by 2030.
NFA’s strategic focus on the Chinese and Indonesian markets underscores PNG’s commitment to diversifying its fisheries industry and contributing significantly to the country’s economic growth.