The fisheries industry has long played a vital role in economic development and food security. Some countries are among the world’s largest exporters of seafood and fishery products. This industry also significantly contributes to national income, employment, and the livelihoods of people particularly those living in coastal communities.
However, in recent years, the issue of Illegal, Unreported, and Unregulated (IUU) Fishing has become a growing concern for many nations. This problem not only depletes marine resources, and disrupts ocean ecosystems, but also causes widespread impacts, especially in the economic dimension. These include loss of export revenue, a decline in fisheries sector income, rising operational costs, and even a decrease in investor confidence.
