Learning to bargain

 
Last Updated: Saturday 04 July 2015

Aggressively claiming its right over its natural resources post tsunami, Indonesia recently adopted a new law that requires all foreign fishing vessels to give 70 per cent of their catch to the domestic processing industry. These vessels also have to ensure that at least 40 per cent of the crew they employ are local fisherfolk.

A spokesperson of the country's ministry of maritime affairs and fisheries said the new law will be a prerequisite for any overseas fishing company wanting to invest in Indonesia and work in collaboration with thier local counterparts. Earlier the government had decided to put an end to all quota allocations to foreign fishing companies on Indonesia's Exclusive Economic Zone. These companies were also collaborating with domestic fishing firms.

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