30 Dec 2014

Tuvalu to split Vessel Day Scheme allocations

4:17 pm on 30 December 2014

Tuvalu, which is a member of the Parties to the Nauru Agreement on tuna fishing in the central Pacific is to make specific allocations to its outer islands from the Vessel Day Scheme.

Under the scheme, the eight member nations sell fishing days in their exclusive economic zones to foreign fishing nations.

Earlier this year the PNA set its minimum price at 8000 US dollars a day.

The Tuvalu secretary of natural resources, Kakee Kaitu, says Tuvalu expects to receive 15 million US dollars from the scheme next year and it is allocating 20 percent to be split among the outer islands for development projects.