Home / Front Page/ $ 100 m annual loss due to EU ban on fish exports: Govt.

$ 100 m annual loss due to EU ban on fish exports: Govt.


Comments / {{hitsCtrl.values.hits}} Views / Friday, 12 June 2015 00:18

Facebook

By Waruni Paranagamage

Fisheries Minister Mahinda Amaraweera yesterday revealed that the country incurs a $ 100 m annual loss due to the ban on fish exports by the European Union.

Addressing the media, Amaraweera said that the EU market used to buy 68% of Sri Lankan fish exports and Sri Lanka was still placed as the second largest tuna exporter to the region.

“By the end of this year, hopefully we could get the ban lifted by the EU. The EU has made some recommendations to Sri Lanka to re-enter the market. Establishing a Vessel Monitoring System (VMS) was a significant recommendation,” the Minster said.

The European Commission announced a ban on imports of fisheries products from Sri Lanka from 1 January for failure to tackle illegal fishing.

The Minister said the new system would monitor the activities of the trawler boats and curb illegal fishing in Sri Lankan waters.

The VMS system is a satellite-based monitoring system which at regular intervals provides data to the fisheries authorities on the location, course and speed of vessels. 

According to the Central Bank report of 2014, Sri Lanka has earned $ 252.7 million from seafood exports. However, earnings have declined by 36.5% in March 2015 caused by the 77.6% decline in seafood exports to the EU market. 

The Minister said they had already implemented a plan to overcome the EU ban by the end of this year. 

“I have taken action in Parliament to amend the Fisheries Act to make it applicable with international law. We expect to develop the act by adding new systems and filing cases against illegal fishing,” Minister added. 

Under the new plan the Government also hopes to maintain a boat searching centre system and deploy officers at the searching centres. 

Meanwhile, due to the restrictions of the EU ban, Grade ‘B’ fish production also has to sell at the local market Grade ‘C’ consumption price.

The remaining 32% from overall seafood exports which levelled as Grade ‘A’ is still exported to the United States and Japan at a high price.


Share This Article

Facebook Twitter


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

Will power cuts solve electricity crisis?

Tuesday, 23 April 2019

The country faced electricity power cuts, reminding citizens of early 1990s, which resulted in private power producers supplying electrical power with long-term power supply agreements. Today, most have completed their agreement period, but some were


Easter attack: Going beyond condemnation

Tuesday, 23 April 2019

Yesterday was Easter Sunday; 227 persons [at the time of writing] have been killed, and many times more injured. The primary targets were churches and international hotels. It seems clear that the extremist group ISIS (Islamic State of Iraq and Syria


Easter Sunday nightmare

Tuesday, 23 April 2019

This is the most important day of the year for Christians – the Peaceful Easter Sunday or Easter Day was shattered by deadly explosions in several Christian churches throughout the country; and we excoriate such hatred in our beloved country. We th


Poignant pondering on a patriarch

Monday, 22 April 2019

Almost five months have gone. It is with a profound sense of sadness that we experienced the demise of our veteran teacher, respected author, legal luminary, an accomplished ambassador, an eminent public servant and an amazing human being, Dr. Wickre


Columnists More