EU to provide aid for aquaculture development in Myanmar

EU to provide aid for aquaculture development in Myanmar
YANGON, June 3 (Xinhua) — The European Union (EU) will provide 20 million euros (over 22 million U.S.dollars) in aid for the development of aquaculture sector in Myanmar, sources with the Ministry of Livestock, Fisheries and Rural Development said Wednesday.

In addition to the cash assistance, EU will also offer high technology for the enhancement of the country’s shrimp and fish farming operations.

At present, Myanmar’s fishery industry lacks investment and technology support and fishery exporters are faced with challenges to expand their share of the EU market.
Currently, the exporters send only 5 percent of their products to the EU, while 50 percent to neighboring countries, the Myanmar Fishery Federation said.

Meanwhile, EU grants Myanmar access to the EU’s generalized system of preferences, allowing the country to send unlimited exports, including fishery products to the EU.

According to statistics, Myanmar’s fishery export earning amounted to nearly 420 million U.S. dollars in the fiscal year 2014-15 which ended in March, a drop of 100 million USD from the previous year.

According to official statistics, in Myanmar, between 1991 and 2013, the area of aquaculture cultivation increased from 12,225 hectares to 180,614 hectares, while production rose from 6,397 tons to 944,809 tons.

The sector employed around 130,000 farm workers in 2014.

Source: Global Post

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