Japan company doubles Sri Lanka export income


SeafoodSource staff

Published on
May 9, 2013

Japan’s leading fish producer, known as ‘Tuna King,” Kiyomura Corporation Chairman Kiyoshi Kimura, will boost Sri Lanka’s deep sea fishing and double its fish export income.

Fisheries and Aquatic Resources Development Minister Dr. Rajitha Senaratne said that the agreements had been finalized with two companies from China and Japan to increase deep sea fishing, which had seen slow growth due to lack of equipment.

He said that with assistance of two Japanese and Chinese companies, Sri Lanka would be able to double the fish export income to around USD 500 million (EUR 384.5 million) by 2015. 

According to him, currently Sri Lanka earned around USD 250 million (EUR 192.2 million) annually from fish exports, out of which 48 percent was from tuna.

Both companies would be registered in Sri Lanka and would operate under the Sri Lankan flag. Once they were in operation, the Sri Lankan government expected fishing revenue to double hitting USD 500 million, he said adding that about 20 Chinese vessels were also expected to operate from Sri Lanka with about four to six vessels expected shortly.

"We are having discussions with other Chinese companies to enter the market as well," he said.

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