Fisheries Sector Development: Agreement Signed for Establishment of Research Fund

In order to support the integrated coastal management for development of fisheries sector, the Fisheries Department and Taninthayi Region Fisheries Federation signed an Agreement on establishment of research fund on 14th February.

According to the agreement, 0.5% of export volume of Taninthayi Region will be added to the research fund. This is the very first cooperation agreement between the government and private sector. Union Minister for Agriculture, Livestock and Irrigation U Tin Htut Oo stressed that this agreement paves way for cooperation in agriculture and livestock breeding sectors as well.

Fisheries Sector contributes 4.7% of the country’s GDP, and it earned over 786 million US dollars from marine products export in 2020-2021. Marine products production in Taninthayi Region is 33% of the production of the whole country, and the export of its products is 38%.