Oman’s Role at Indian Tuna Commission Meeting: Key Implications for Investors and Business Growth
The Sultanate of Oman is actively participating in the 16th meeting of the Committee on the Allocation of Fishing Quotas under the Indian Ocean Tuna Commission (IOTC), currently taking place in Perth, Australia. This important gathering brings together representatives from 29 member states and nine regional and international organizations dedicated to the management of tuna fisheries.
Leading Oman’s delegation is Eng. Yaqoub bin Khalfan Al Busaidy, Under-Secretary of the Ministry of Agriculture, Fisheries and Water Resources for Fisheries.
The meeting, which runs until February 6, is focused on key technical discussions, including the allocation of fishing quotas, with particular attention to artisanal and small-scale fisheries. Participants are reviewing the overall quota allocation framework, including baseline criteria, special provisions for developing countries, and potential alternative approaches.
The Omani delegation highlighted the crucial need for enhanced cooperation among member states to reach equitable agreements that promote the sustainable use of tuna resources in the Indian Ocean. They reaffirmed Oman’s commitment to supporting the Indian Ocean Tuna Commission’s efforts to conserve these resources, thereby safeguarding the nation’s rights to engage in high-seas tuna fisheries. Additionally, the delegation emphasized the importance of aligning national fisheries plans with global strategies, contributing to food security and advancing sustainable development goals.
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Oman’s active participation in the IOTC quota meeting signals a strategic commitment to sustainable fisheries management, crucial for protecting its valuable tuna resources. This creates long-term opportunities for businesses in seafood export and aquaculture, while mitigating risks related to overfishing and regulatory penalties. Smart investors should consider aligning with sustainability initiatives and exploring innovations in artisanal and small-scale fisheries to leverage emerging market and environmental standards.
