Illegal, unregulated and unreported (IUU) fishing as well as environment degradation are some of the severe challenges the fishing sector is facing, especially in the African, Caribbean and Pacific (ACP) region, further hurting their economies, particularly in their efforts to cut poverty and sustain growth.

In the Western and Central Pacific Ocean, IUU pilfers at least €470 million annually, and actual lost revenue to Pacific Island countries is around €140 million.

It is worse in West Africa where IUU claims more than €1 billion per year.

Although around US$140 billion worth of fish is traded globally per year, ACP’s share of this market is minimal with exports at around US$5.3billion annually.

Challenges such as trade barriers impede competitiveness and local producers struggle to meet high product standards that international markets demand. In addition poor infrastructure such as storing facilities to add value to products, contribute to holding back economic gains.

Environment degradation in the form of pollution, overfishing and climate change are challenges, which can only be tackled through regional and international cooperation.

The effects of climate change such as sea surface warming, ocean acidification, rising sea levels and extreme weather events lead to habitat destruction, reduced fish stocks and damaged ecosystems.

For example, in the Caribbean, more than 70% of the population lives along the coast and nearly two thirds of its coral reefs are threatened by human activities. A third is threatened by coastal development and pollution from inland sources.

Countries cannot tackle these grave challenges on their own and because of the shared nature of fisheries resources and the similar challenges, they need to work together.

The latest figures [2] show that more than 165 million tonnes of fish are captured or harvested in a year and on world average each person consumes more than 20kg of fish per year. The fishing industry has millions of people relying on jobs in fishing, fish-farming as well as the seafood industry.

Next week, 18 – 21 September, government ministers from Fisheries and Aquaculture departments in ACP countries will meet in Nassau, Bahamas to focus on strengthening and sharing commitments, including national or regional best practices and agree on priority issues that they need to tackle together.

They will also look at the potential of the ‘blue economy’ to promote economic growth, social inclusion, and improve livelihoods as well as ensuring environmental sustainability of the oceans and coastal areas.