Fisheries officials from nine Pacific Island nations are currently in Iceland to gain insights from the country’s successful development of a robust and sustainable fisheries sector. This collaborative effort between the World Bank and the Icelandic Government is designed to offer Pacific fisheries experts the chance to learn from Iceland’s journey from a development aid recipient to a global leader in sustainable fisheries.
Over the next 10 days, leaders from Fiji, Kiribati, Marshall Islands, Palau, Samoa, Solomon Islands, Tonga, Tuvalu, Vanuatu, and the regional Forum Fisheries Agency (FFA) will explore Iceland’s cutting-edge practices and technologies in sustainable fisheries management. The focus will include best practices in handling raw fish material and examining Iceland’s success in fostering a thriving private fisheries sector.
This initiative, supported by the World Bank’s PROBLUE multi-donor trust fund, aims to contribute to the integrated and sustainable development of marine and coastal resources in the Pacific. Despite the significant geographical difference between Iceland and the Pacific Islands, both regions share similarities in their fisheries sectors. Iceland, with a population of 390,000, has transformed its economy by effectively managing marine resources through a science-based quota system, resulting in an export value of approximately US$2.5 billion, with 70% processed locally for export.
Thor Asgeirsson, Director of Iceland’s GRÓ Fisheries Training Program, noted that Iceland faced challenges similar to those currently experienced by many Pacific countries 50 years ago. However, Iceland’s successful extension of its Exclusive Economic Zone (EEZ), coupled with advancements in fisheries management and technology, has propelled it to prosperity.
Xavier Vincent, the World Bank’s Lead Fisheries Specialist for the Pacific, highlighted the significant growth in earnings from tuna fisheries for Pacific Island nations, reaching around $500 million in the last six years. He emphasized the untapped potential in onshore processing and geothermal energy, expressing the delegates’ excitement about these sectors’ prospects in the Pacific.