The Philippines and Palau have formalized a landmark agreement to promote sustainable fisheries practices, enhance mutual trade and investment, and foster technical cooperation in the sector.
The Memorandum of Understanding (MOU), signed recently between the Department of Agriculture-Bureau of Fisheries and Aquatic Resources of the Philippines and the Ministry of Agriculture, Fisheries, and the Environment of Palau, lays the groundwork for a robust partnership. This historic agreement targets key areas of cooperation, including the fight against illegal, unreported and unregulated (IUU) fishing, the sharing of technology, the development of fisheries infrastructure, and the facilitation of trade and investments.
The Philippines and Palau also pledged to work together in ensuring compliance with international market standards set by global leaders such as the European Union and Japan.
Agriculture Secretary Francisco P. Tiu Laurel Jr. said the agreement marks a significant milestone in both nations’ shared commitment to safeguarding the environment for current and future generations.
“This MOU reflects our joint commitment to sustainable fisheries management, ensuring that the fisheries industry thrives while complying with the legal framework and international obligations, such as those outlined in the United Nations Convention on the Law of the Sea,” Secretary Tiu Laurel said.
At the heart of this agreement is the critical goal of conserving highly migratory fish stocks particularly in the Western and Central Pacific Ocean. This vast region is home to commercially important fish species such as tuna (skipjack, yellowfin, bigeye, and albacore), billfish (marlin and sailfish), all of which are highly valued in the region’s economy.
A Joint Committee will be established to oversee the agreement’s execution, with senior officials from both nations meeting annually to plan, monitor, and assess progress.
The MOU sets the foundation for future collaboration through detailed implementation frameworks. It is designed to be reviewed in five years, providing both countries with the flexibility to adapt to shifting needs and emerging priorities.
This groundbreaking agreement not only promises to revitalize the fisheries sector but also strengthens regional cooperation, advancing both environmental sustainability and economic growth.
“We are hopeful that this agreement with Palau would be the blueprint for similar endeavors across the globe to protect and preserve marine resources as well as our seas,” said Secretary Tiu Laurel.
