Sustainable fishing is set for a large dose of capital as China’s infrastructure investment program sets its sights on global fishing, explains Bylgja Pálsdóttir.
The Belt & Road Initiative (BRI) is China’s investment strategy to put in place the infrastructure necessary to connect the domestic market with its foreign markets. A huge plan, BRI spending is a worldwide undertaking that has huge implications for many countries, especially those in developing nations in Europe, Asia, the Middle East, Latin America and Africa.
A new 3.2 billion train from the port of Mombasa to Kenya’s capital Nairobi, a second international airport in Sri Lanka—much of China’s investment under BRI has been focused on building infrastructure outside its own borders as a means to bring its product to willing markets. And a recent announcement from China is raising eyebrows all over the global fishing industry, as reported by ECNS.
The Chinese Ministry of Agriculture and Rural Affairs has stated that the country will make more contributions to the sustainable development of the global fishing industry under the Belt and Road Initiative. According to the ministry, China is the world's largest aquaculture producer and it can give full play to its technological and talent advantages in the field while cooperating with other developing countries.
“We hope to work with others involved in the BRI to develop the fishing industry… and make breakthroughs in aquaculture,” said the ministry. "Through cooperation we can provide technology, talent and financial support for developing aquaculture, including the cultivation and processing of aquatic products.”
This announcement coincides with Russia’s concerted efforts to revamp its fishing sector with advanced technology and industry innovation. That coupled with China’s declared interest in advancing the global fishing industry towards sustainability under the Belt & Road Initiative translates to large-scale projects with great reliance on the kind of state-of-the-art technology and innovation provided by Skaginn 3X. As interest and investment from big players like Russia and China drive real, effective change, the future of fishing is moving towards greater efficiency and sustainability, including markets in developing nations.
