Business Times, 30 April 2010
Private sector officials from Brunei- Indonesia-Malaysia-Philippines East Asean Growth Area (BIMP-EAGA) have identified possible joint-venture investment projects on high-value aquaculture products. They were identified at the business-matching sessions of the BIMP-EAGA Business Conference on High-Value Aquaculture in General Santos, Mindanao, recently.
Some companies from the Philippines, with a majority coming from Mindanao, was able to work out nine possible business partnerships with their EAGA counterparts, particularly on development of aquaculture products such as soft-shell crab, pangasius, tuna, grouper and provision of feeds, fingerlings, and marketing.
High-value aquaculture has been identified as one of the areas of collaborations by the BIMP-EAGA Fisheries Working Group along with tuna, sardines and seaweeds, a statement issued by the Mindanao Economic Development Council (MEDCo) said today.
The Philippines-Brunei partnership yielded two possible joint ventures on establishing hatcheries for soft-shell crab in Brunei and Davao, it said.
A joint venture on the supply of "degut" pangasius was also mooted, with SOCSKSARGEN, a development zone encompassing provinces of south Cotabato, Sultan Kudarat, Sarangani and General Santos City, supplying pangasius to a company in Brunei.
The company will process pangasius into a halal product and market it in the Middle East and other countries. A Brunei-Philippines joint venture on offshore cage farming of grouper fish was also recommended for exploration, distribution and test-marketing of feeds.
Several joint-venture proposals on importation of feeds and fingerlings were also identified by the Philippines and Indonesia private sectors particularly in north Sulawesi. A Philippines-Malaysia partnership on integrated seaweed development was also suggested by the private sector representatives of both countries.
Fatima Ferdouse, INFOFISH Trade Promotion Department head in Malaysia, said increased production of fish species such as pangasius and tilapia had pushed global aquaculture output to new highs, contributing to greater international and domestic trade.
In a presentation at the recent BIMP-EAGA Business Conference on High Value Aquaculture, she said the Philippines could take advantage of its potentials in "farming" certain species to increase aquaculture production.
The Philippines ranked fourth in global aquaculture production with 2.4 million tonnes production in 2008, trailing behind China, India and Indonesia. "Sustainable supply and competitive price will be key factors for any country to be competitive in the high-value aquaculture trade," she said.
She said food safety and quality assurance were important issues that need to be strengthened in developing countries. The business conference highlighted the need to develop the sub-region's aquaculture potentials while pushing for good environmental practices that would maintain the marine biodiversity in the sub-region, improved marketing, research and development and food security.
In developing countries, cheaper species such as milk fish and tilapia in the Philippines should continue to provide food security, said Fatima. The BIMP-EAGA Business Conference on High-Value Aquaculture aims to increase and expand private enterprises involved in high-value aquaculture in BIMP-EAGA through active promotion of joint ventures between and among EAGA members, investment and trading and export of high-value seafood to target markets.
BIMP-EAGA shares a common vast fishing ground but the rapid development of the fishing industry and unsustainable fishing practices have brought too much pressure on marine resources.
The development of the aquaculture sector has been identified as one of the best solutions to lessen the pressure on natural marine population.
Source: Business Times
