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M-E joint ventures in fishery projects

by Bharatha Malawaraarachchi

The Fisheries and Ocean Resources Ministry is examining the possibilities of Middle East investments in joint venture fishery projects in Sri Lanka.

During his visit last week, Minister Mahinda Wijesekera had discussions with the Minister of Fisheries and Agriculture in Saudi Arabia on matters pertaining to the fisheries industry in both countries, a Ministry spokesman said.

In his one week visit, the Minister also visited fisheries harbours and fish markets in Dubai and Sharjah.

He also visited the free trade zone and had discussions with the representatives of the Chamber of Commerce in Saudi Arabia.

The Ministry is now in the process of drawing up a comprehensive six year plan for the fishing sector under the Government's 100 days program.

Priority measures for encouraging more local and foreign investors to invest in this sector and improve infrastructure facilities such as more anchorages will be incorporated in the plan.

Minister Wijesekera has also instructed Ministry officials to explore the possibility of using 10 long range trawlers for rapid development in the sector, the spokesman added.

Although, there are 400 fishing vessels engaged in the international waters close to Sri Lanka, only 100 ships were bringing an income to Sri Lanka, he added. 

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