Options for U.S. fisheries investment in the Pacific Islands

Abstract

As part of their development efforts, Pacific island countries seek to promote commercial fishing ventures. Because they lack domestic capital and expertise, island countries actively encourage foreign investment in their fisheries sectors. This paper addresses the lingering issue of how U.S. investors might participate in their fisheries joint-venture or other investment arrangements. It reviews the fisheries resources and patterns of exploitation in the Pacific islands region in terms of inshore fisheries, oceanic fisheries, and aquaculture. Options for investment by U.S. investors are discussed, with particular emphasis on investment in the fleet- and shore-based components of the region's tuna industry. The attitude of Pacific island countries to foreign investment is briefly outlined, and a more aggressive role is suggested for the U.S. government in promoting U.S. fisheries investment in the region. Constraints on foreign investment are discussed and conclusions drawn.