IIFET 2008 Vietnam Proceedings GLOBALIZATION – HAS IT HELPED OR HINDERED IN MANAGING FISH STOCKS SUSTAINABLY?

While there have been substantial benefits to fish trade and the fishing industry from the opening up of markets, deregulation and greater flexibility in how and where companies can operate, this may have come at a significant cost when it comes to managing fish stocks sustainably. Globalization has facilitated the catching, processing and marketing of fish however we frequently have little or no idea where the fish was caught, how sustainable the catch is, and where it has been before it enters the final market. Fisheries management by its very nature requires significant regulation. Regulation is aimed at addressing market failure. Well-resourced domestic fisheries management will result in sustainable fisheries and agreed environmental outcomes. Catches from the high seas present a vastly more complex picture. Despite attempts over many years to manage high seas stocks the record is not good. Globalization has in many cases facilitated the development and use of loopholes in international arrangements providing access to flag States who are not party to key agreements and allowing companies to set up in these countries often with little or no transparency. This environment presents a significant policy challenge for fisheries managers and the international community. How do we get economics to reinforce the fisheries management arrangements we need? There are significant policy gaps which need to be explored and responses developed. It may be time for a significant shift in thinking about the rights and responsibilities of those who access fishery resources