The local tuna industry of General Santos City has taken this step to fast their mission of new investment in Palau in a to address obstacles to operating in the island-state’s rich fishing grounds through joint venture deals with counterparts there. An industry leader said among the key issues the team will raise is the hefty fish export tax and the establishment of an alternative transshipment point to cut operational costs if ever formal agreements will be reached by the parties.
Bayani B. Fredeluces, executive director of the Soccsksargen Federation of Fishing and Allied Industries, Inc. (SFFAII), explained that this trade visit is also in reciprocation to the coming here of the Palauan businessmen [early February]. The mission is a part of the continuing process for further exploratory talks or negotiations so that we can fish in their waters. SFFAII, the umbrella of seven local tuna fishing industry associations, said that representatives of 10 local fishing firms are taking part in the mission.
Marfenio Y. Tan, federation president and owner of San Andres Fishing Industries, Inc., is the delegation head for the meetings slated on March 5 and 6 in Koror. Some of the delegates had already left yesterday, while others will depart today. It is told that unless lifted by Palau, Filipino tuna fishing boat operators said that tax would make it hard for them to invest in the tuna-rich nation. “That’s quite significant as far as value is concerned. It’s a hefty tax and very difficult to work at that rate.
Domingo T. Teng, owner of TSP Marine Industries, opined that Palau has granted fishing licenses to only six locally registered companies, mostly owning long-line fishing vessels, as mandated by that nation’s law.
