According to the authority the bill would replace Palau’s current multi-licensing regime with a single fishing license to a foreign nation that is chosen through a competitive bidding process. This bill was introduced by Resources Committee Chairman Sen. Santy Asanuma nearly six months ago.
It is told that the measure would require foreign nations to bid for Palau’s sole fishing license. The winning country would then designate a commercial fishing firm to manage the license, and negotiate a final fisheries agreement with Palau. As per the record Palau has at least four foreign fishing companies harvesting tuna in Palau’s waters, three from Taiwan and one recently from South Korea.
The bill will equip Palau with significant resources to monitor and police its waters with a patrol boats and marine law enforcement staff. The legislation makes it the responsibility of the winning country to assist and cooperate with Palau maritime authorities to assure that all appropriate laws are adhered to and enforced.