Representatives from the Bureau of Fisheries and Aquatic Resources (BFAR) will lead Philippine businessmen in meeting counterparts from Timor-Leste and Indonesia to discuss implementation of a recently signed agreement designed to foster cooperation on sustainable fishing. According to BFAR it is a great opportunity for the senior officials of Timor-Leste] to meet potential investors from the Philippines.
BFAR Director Malcolm I. Sarmiento said at the sidelines of the 3rd Coral Triangle Initiative Coordination Committee meeting that all tuna fishing companies should take the advantage of this meeting to boost their business. He would invite Navotas — and General Santos-based tuna companies. The so-called Coral Triangle is a 2.3-million square mile area boundering the Philippines, Timor Leste, Indonesia, Malaysia (Sabah), Papua New Guinea, and Solomon Islands.
Researches show that the area is home to more than a third of all the world’s coral reefs, harbors about 600 species of reef-building coral, or 75 percent of all known coral species, over 3,000 species of reef fish, holds nearly 75 percent of the world’s mangrove species, over 45 percent of seagrass species, 58 percent of tropical marine mollusks, five species of sea turtles and at least 22 species of marine mammals, including 97 species of reef fishes endemic to Indonesia, and more than 50 in the Philippines.
It is said that the government is looking at harvesting 30,000-50,000 metric tons of tuna from Banda Sea in the triangle. According to BFAR last year the Philippines and Timor-Leste signed a memorandum of agreement on post-harvest operations; fish processing development and marketing; coastal management and development; marine fisheries conservation; combating illegal, unreported and unregulated fishing practices; as well as environmental protection.
Lourenco Borges Fontes, director general of Timor’s Ministry of Agriculture and Fisheries, told that there are laws and regulations that will allow investment in the fisheries sector in Timor-Leste. He added that fishermen already experienced in the Philippines can head to Timor-Leste to capacitate the local fishermen in catching more fish.
