VIDEO: Illegal and Unregulated Fishing Off the Coast of Somalia
It is difficult to estimate the losses that foreign illegal vessels cause in Somalia. Annual estimates range from US$ 100 million (MRAG, 2005) to over US$450 million (Waldo, 2009). In addition to loss in revenue, illegal vessels cause overfishing, reduce fish stocks, affect local catches, harm the marine environment and destroy fishing communities by denying opportunities to catch and export fish. Illegal fishing causes loss of employment in fishing and post-harvest fish handling as loss of revenue that could be generated from landing fees, license fees, taxes and other revenues payable by legal fishing companies. Watch the video to find out more.