Government's commission approved schedule for the revolutionary switch to 10-year quota shares

October 17, 2008 16:33

The Government's Commission on Fishery Development Issues, which gathered on 15 October 2008 as headed by First Vice-PM Viktor Zubkov, approved a schedule for the industry's switch to the new 10-year capture quota share system as of 1 January 2009, reports ( with reference to Commersant.

According to the schedule, by 20 October 2008 the working group of Russia's Federal Fisheries Agency shall check the applications so that they comply with the quota share distribution requirements. By 27 October 2008 the group shall calculate the applicants' shares and by 12 November 2008 the Federal Fisheries Agency shall approve the distribution between the fishermen.

At the Commission's meeting the agency's head Andrey Krainy has admitted that the new conditions of quota share distribution will lead to an overall decrease of share holders. In particular, he added, this year the number of applications slightly exceeded 1500, while there are 1700 shares currently used by the fishermen. The decrease of share holders can be also attributed to stricter conditions for the applicants who have to comply with a number of qualifications, for example they must run either own or charted boats. According to Andrey Krainy, the new rules have already stimulated the nation's fish businesses to merge, which is in line with the industry's current policy.

What is MEGAFISHNET.COM? is a global fish and seafood marketplace with an emphasis on APPROVED SUPPLIERS from such major sources as China, Russia, Vietnam, Europe, Americas, etc. More details →