Tuvalu has officially ratified the amendments to the United States Treaty on Fisheries, marking a significant step in strengthening its economic and fisheries management efforts. The amendments were signed yesterday by Prime Minister Hon. Feleti Teo, reaffirming Tuvalu’s commitment to the Treaty and its partnership with the Forum Fisheries Agency (FFA).
A Strong History of Cooperation
The US Treaty, initially ratified by Tuvalu in 1987, has played a vital role in supporting the nation’s economy through fisheries access fees. Previous amendments, including the 2016 integration of the Vessel Day Scheme (VDS), substantially increased financial returns for Tuvalu. The latest changes, negotiated in March 2024, build on these benefits with a greater focus on economic support.
Increased Financial Benefits
The amendments boost the US Government’s annual economic assistance package from USD $21 million to USD $60 million. Tuvalu will receive an estimated USD $4 million annually through equal shares, additional payments for access days, and bonuses tied to fishing activity in its waters.
Director of Fisheries Commends the Milestone
Samasoni Finikaso, Director of the Fisheries Department, highlighted the importance of this achievement: “The US Treaty continues to be a key driver of economic growth and sustainable fisheries management in Tuvalu. This ratification ensures our nation remains on a strong path of progress, benefiting both our people and marine resources.”
A Commitment to the Future
The US Treaty remains a cornerstone of international cooperation and economic stability for Tuvalu, despite reduced activity by the US fishing fleet. This ratification reinforces Tuvalu’s dedication to sustainable fisheries and its role in regional partnerships.
Tuvalu’s continued engagement with the Treaty demonstrates a clear commitment to protecting its resources while ensuring long-term benefits for its people.
Funafuti, Tuvalu.