Written by MFOR Media on 08 January 2025.
Written by MFOR Media on 07 January 2025.
The Honourable Minister Ribanataake Tiwau and his team at MFOR, is happy to greet this new year 2025 with a thrilling news, that as of 31 Dec 2024, MFOR managed to achieve $210.2 Million from fishing license fees. This is performing above the ceiling of $200 Million for 2 consecutive years, despite unfavorable conditions for fishing in the Kiribati EEZ during 2024, as fishing was mostly concentrated in the western Pacific around PNG and FSM. More info will be published in the MFOR Annual Report 2024. Stay tune followers.
Kiribati has strong fishing bilateral relationships with a number of countries including South Korea. For over a decade, Kiribati and South Korea have strengthened their partnership through their Joint Venture Companies which focused on mutual arrangements relating to fishing for raw tuna materials for Korean companies and the provision of revenues through access fees for Kiribati. On 20 – 21 December 2024, a successful board meeting of these Joint Venture companies was held between Kiribati and the South Korean Companies, Dongwon Industriea, SILLA Co Ltd, and Sajo Industries Co Ltd in Brisbane, Australia. These deals will enable business operations for the new year 2025 with more exciting onshore developments for Kiribati in the future. Honourable Minister Ribanataake Tiwau acknowledged the long-standing and fruitful partnerships between the Government of Kiribati and these Korean companies and their direct contributions to the economic aspirations of both parties.
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