New sustainable fishing agreement to boost Seychelles blue economy

Seychelles, an island nation in the Indian Ocean, has recently signed a new sustainable fisheries partnership agreement with the European Union to boost its blue economy. The EU-Seychelles fisheries agreement, initially established in 1984, has undergone significant updates to include new fishing opportunities, financial contributions from the EU, and most importantly, a focus on sustainability. CNBC Africa's Ridhima Shukla spoke with Seychelles' Minister of Fisheries, Jean-François Ferrari, to delve into the details of the revised agreement and its implications for the country's economic and environmental landscape. The new partnership marks a significant step towards ensuring the long-term viability of Seychelles' marine resources while promoting responsible and eco-friendly fishing practices. Minister Ferrari emphasized the importance of sustainability in the agreement, highlighting the commitment of all parties involved to protect the industry and preserve the ocean's biodiversity for future generations. The six-year agreement, signed in February last year, aims to strike a balance between economic development and environmental conservation. While acknowledging that the financial benefits to Seychelles may not be substantial in the short term, the agreement's focus on channeling earnings back into the development of small-scale artisanal fisheries demonstrates a commitment to fostering a more inclusive and sustainable fishing industry. The agreement allows European countries such as France, Spain, Italy, and Portugal, among others, to fish in Seychelles' waters, subject to agreed-upon regulations and quotas. With approximately 40 European vessels operating in the Indian Ocean, Seychelles plays a pivotal role in ensuring that fishing activities are carried out responsibly and in line with conservation principles. In collaboration with the Indian Ocean Tuna Commission, a regional body overseeing tuna fishing in the region, Seychelles has been actively involved in efforts to manage and conserve marine stocks effectively. As Minister Ferrari pointed out, there is a particular focus on addressing the conservation of Yellowfin tuna, a species facing threats due to overfishing. The Seychelles delegation is currently engaged in negotiations with other partners through the Indian Ocean Tuna Commission to develop a robust regulatory framework that promotes sustainable fishing practices. Data collection and scientific research play a crucial role in supporting sustainable fisheries management in Seychelles. The Seychelles Fisheries Authority serves as a central repository for a vast amount of fisheries data collected over decades of monitoring the sector. Rigorous data sharing agreements with fishing entities ensure that essential information on catches and fishing activities is made available for analysis and decision-making. To enhance monitoring and compliance, Seychelles has implemented an advanced system of electronic monitoring on tuna vessels, including the mandatory installation of cameras for real-time surveillance of fishing operations. This proactive approach to data collection and monitoring is essential for safeguarding marine resources and preventing overexploitation. By prioritizing sustainability, transparency, and collaboration, Seychelles aims to create a thriving blue economy that supports both economic prosperity and environmental conservation. The new sustainable fishing agreement represents a significant milestone in Seychelles' journey towards building a resilient and ecologically sound fishing industry.