Living on a remote group of Islands located deep in the South Atlantic Ocean; Falkland Islanders have always had a great affiliation with the sea and are proud of their maritime heritage. The introduction of the Fisheries Conservation zones around the Falklands and the management regime in 1986 that transformed the economy of the Falkland Islands and provided opportunities in this sector for Falkland Islanders. Today, the fishing industry fuels the Island’s economy.
In world terms, our Fishery is not large. The Falkland Island’s marine fishing waters measure just under 450,000 square kilometres. Our catches on average are circa 311088mt per annum in the last 5 years, with nearly 75% of catches made up from the two species of squid
Our Fishery is science based and managed with the prime objective of ensuring that the resources in our part of the southern ocean are utilised in a rational and sustainable way, with minimal impact on the ecosystem. This ensures that our community can provide for our social, economic and cultural wellbeing in the present whilst protecting the existence of our resources for future generations.
All but one of our 15 fisheries are managed under our internationally recognised system of quota management which allocates Individual Transferable Quotas to quota holders. Each year our Fisheries Authority reviews, sets and adjusts catch limits and effort permitted on the different fish stocks and also considers other sustainability measures. Once decided the sustainable catch limit or amount effort is enforced under the Fisheries Ordinance. Our fishery for Toothfish is certified by the Marine Stewardship Council.
Our Fisheries regulations include electronic daily reporting, closed areas, targeted observer coverage, electronic vessel management systems, on-board inspections as well as random catch verifications. We are also subject to other enforcement activities ensuring compliance with all applicable fisheries management measures. Information collected is used in both the research and management of the different fisheries.
The transferability of ITQ ensures that the most efficient use of available fishing effort can be achieved.