DAVAO CITY — Private sector representatives coming from the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) identified possible joint venture investment projects on various high-value aquaculture products as a result of business matching sessions of the BIMP-EAGA Business Conference on High-Value Aquaculture held in General Santos last month.
Some private sector from the Philippines, with a majority coming from Mindanao
, was able to form nine (9) possible business partnerships with their EAGA counterparts, particularly on development of aquaculture products such as soft-shell crab, pangasius, tuna, grouper, as well as provision of feeds, fingerlings, and marketing.
High-value aquaculture has been identified as one of the areas of collaboration by the BIMP-EAGA Fisheries Working Group along with tuna, sardines and seaweeds.
The Philippines-Brunei Darussalam partnership yielded two possible joint ventures on establishing of hatchery of soft-shell crab both in Brunei Darussalam and Davao.
A joint venture on the supply of “degut” pangasius was also proposed, where a provider from SOCSKSARGEN will supply pangasius to a private company in Brunei, who will be processing it as a halal product and marketing it in the Middle East and other countries.
A Brunei Darussalam-Philippines joint venture on off-shore cage farming of grouper fish was also proposed for exploration, including distribution and test-marketing of feeds.
Several joint venture proposals on importation of feeds and fingerlings were identified between Philippines and Indonesia private sector, particularly in North Sulawesi.
A Philippines-Malaysia partnership on integrated seaweed development was also proposed by private sector representatives of both countries.
According to Fatima Ferdouse, Trade Promotion Department Chief of INFOFISH in Malaysia, the increase in production of species such as pangasius and tilapia has pushed global aquaculture output “to new highs contributing to greater international and domestic trade.”
In a presentation made during the recent Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) Business Conference on High Value Aquaculture, she said that the Philippines can take advantage of its potentials in “farming” certain species to
increase aquaculture production.
The Philippines ranked fourth in global aquaculture production with 2.4 million metric tons production in 2008 trailing behind China, India, and Indonesia.
“Sustainable supply and competitive price would be the key factors for any country to be competitive in the high value aquaculture trade,” said Ferdouse.
However, she stressed that food safety and quality assurance are important issues that need to be strengthened in developing countries.
The business conference highlighted the need to develop the sub-region’s aquaculture potentials while pushing for good environmental practices that would maintain the marine biodiversity in the sub-region, improved marketing, research and development, and food security.
Delegates of the recently-held BIMP-EAGA Business Conference on High-Value Aquaculture take a closer look at bangus (milkfish) fries being propagated at the Alsons Aquaculture Corporation in Alabel, Sarangani. Considered a success story of the Philippines' high-value aquaculture industry, Alsons is known for growing and processing premium aquamarine products both for domestic and foreign markets. The project site visit is part of the first-ever conference which gathered aquaculture industry players from all across the sub-region to discuss business opportunities, best practices and recent breakthroughs on aquaculture farming.
Ferdouse added that in developing countries, cheaper species such as milkfish and tilapia in the Philippines should continue to provide food security.
The BIMP-EAGA Business Conference on High-value Aquaculture aims to increase and expand private enterprises on high-value aquaculture in BIMP-EAGA through the active promotion of joint ventures between and among EAGA members, investment and trading and export of high-value seafood to target markets.
BIMP-EAGA shares a common vast fishing ground but the rapid development of the fishing industry and unsustainable fishing practices has brought too much pressure on marine resources. The development of the aquaculture sector has been identified as one of the best solutions to lessen the pressure on natural marine populations. MinDA
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