Fisheries sector important to Jamaica’s economy

Chief Executive Officer (Acting) of Agro-Investment Corporation, Michael Pryce listens attentively to presentations, at the 8th Biennial Jamaica Diaspora Conference at the Jamaica Conference Centre, in downtown Kingston on June 18.

Acting Chief Executive Officer (CEO) of the Agro-Investment Corporation, Michael Pryce, is emphasizing the importance of the fisheries sector to the economy, which contributed US$79million to the country’s gross domestic product two years ago.
Mr. Pryce noted that exports from the sector totaled over 1000 metric tonnes and was valued at approximately US$12million.
“In the last five years, the estimated value of the fishing industry has been in the region of US$40million to US$60million per year and the Ministry of Industry, Commerce, Agriculture, and Fisheries is playing an important role in positioning our fisheries sector to fuel the economy,” he said.
Mr. Pryce was addressing a plenary session on agriculture, at the 8th Biennial Jamaica Diaspora Conference at the Jamaica Conference Centre in downtown, Kingston on June 18.
He said the efforts include the passage of the Fisheries Act of 2018 and the development of a Fisheries Authority that will assist with managing the sector and aligning it to global standards.
“We are also looking at achieving Marine Stewardship Council (MSC) certification for a specific area of our fisheries, and we are also developing standards for our live lobsters to go into international markets,” he pointed out.
The MSC certification is a reward for efforts to protect oceans and safeguard seafood supplies for the future.
Mr. Pryce noted that the overarching aim of the Ministry is to create an enabling environment to support the growth in capture fisheries and aquaculture, through improved competitiveness globally and locally and diversification along the value chain.
“The government is pushing for increased investment in aquaculture and mariculture and other aspects of the blue economy as they become evident,” the AIC CEO noted.
Held from June 16-20 under the theme: ‘Jamaica and the Diaspora: Building Pathways for Sustainable Development’, the conference, which is convened by the Ministry of Foreign Affairs and Foreign Trade, is connecting Jamaicans from all over the world, for dialogue and development of concrete actions in areas of national importance.
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