Russia's Government amending fishery development program

Russia's Government has introduced a number of amendments into the federal target program on the nation's fishery industry development, reports http://www.megafishnet.com/ with reference to the Federal Fisheries Agency.

More specifically, the program's validity term has been cut from until 2014 to until 2012. Accordingly, the Government has reduced its forecasted investments from RUR 32 billion to RUR 24 billion.

The new version of the program provides for a further catch rise from 4.2 billion MT in 2011 to 4.3 billion MT in 2012, a rise in seafood production output from 3.995 million MT to 4.1 million MT and a growth of quota take-up from 60.3% as forecasted for 2011 to 64.5% in 2012.

According to PR head of the Fisheries Agency Mr. Alexander Saveliev, the above mentioned reductions of the program's term and funding is a disturbing signal for the industry, in particular, for its shipbuilding sector and port infrastructure. The Russian fishing fleet is strongly worn out and would need heavy investments into its refurbishment and renewal. The current condition of port infrastructure in Russia often fails to meet the fishermen's needs in landing and coldstorage capacities and also has to be supported by the government.

Besides, the fishery industry is anticipating new potential challenges connected with Russia's entry to the WTO.