The Oceans Economy and Trade Strategy (OETS) project was designed to support coastal developing countries, including small island developing states (SIDS) such as Barbados. The project aims to help these States derive improved economic benefit from sustainable trade of products and services in selected ocean-based economic sectors.
This report focuses on sustainable marine fisheries and seafood processing, specifically the Barbados large pelagic longline fishery and the process of moving from exporting fresh headed and gutted tuna to exporting fresh tuna loins.
The report assesses the large pelagic longline fishery and specifies improvements that can be made in accordance with UNCTAD’s five pillars of oceans/blue economy:
- Sustainable economic development.
- Sustainable use and conservation of marine resources.
- Inclusive social development.
- Increased scientific knowledge.
- Oceans and trade governance.
To underpin and inform the analyses required under the OETS format, this assessment used fishery performance indicators (FPIs) as key indicators of triple bottom line outcomes. Triple bottom line outcomes focus on the planet, people and profits. Effective fisheries development requires ecosystem sustainability and social acceptability, and supports livelihoods through resource rents or profits.
The report is the result of a collaborative effort between UNCTAD, DOALOS and FAO in the implementation of Sustainable Development Goal (SDG) 14. It provides guidance to support the policy and regulatory economic environment of the Barbados large pelagic longline fishery, and serves to examine the possibility of adding value in the tuna sector through opportunities in loining (removing the tuna meat from the head and backbone of a tuna). It is not intended to be a decision-making tool for investing in the fishing industry of Barbados, but it does provide baseline information relevant to necessary further analysis and consultations with all relevant stakeholders.
The subsequent phase of the project will support certain modest implementing actions so as to take forward priority key recommendations of the report, as may be identified by the Government of Barbados.
