27 Sep 2012

Palau receives money from PNG for unused fishing days

10:36 am on 27 September 2012

Palau has received payment of 750,000 US dollars from Papua New Guinea for additional fishing days under the Parties to the Nauru Agreement.

Palau's Island Times reports that the Office of the President has disclosed Papua New Guinea has deposited the money into Palau government's account .

The Parties to the Nauru Agreement, to which Palau is a member, operates a Vessel Day Scheme for foreign purse seine vessels where a total number of days for fishing are set for the PNA area.

The PNA members who do not use the total days can sell the unused days to other members.