Head of the Parties to the Nauru Agreement (PNA)says the organisation's vessel day scheme (VDS) has doubled revenue for member countries but is still to reach its full potential.
At a key speech to the Pacific Tuna Forum held this week in Honiara, the PNA CEO said the PNA VDS had not yet reached its full potential.
Dr Transform Aqorau said while the PNA VDS had increased the value of the fishery from 1.9 to 3.8 million US dollars per annum since 2010, there were still gaps in implementing and understanding Pacific governments, foreign fishing nations and industry.
Dr Aqorau also called on industry to support the PNA saying the industry must work within the rules, regulations and spirit of the VDS.
He also called on foreign fishing nations to recognize the VDS as the number one fisheries management tool and stop proposing alternative schemes.
He said in the last 4 years the PNA has been able to double the value of the fishery under the VDS so there is hope that PNA member countries can end up with a fishery that is efficient, sustainable and bring with it economic benefits for all concerned.