Macri signs decree to renew Argentina’s fishing fleet

A Decree of Need and Urgency (DNU) has been published in Argentina for a scheme to renew the country’s fishing fleet. The new regulations state that once a period of 20 years has expired, vessels with a valid fishing permit must be less than 40 years old unless the reconstruction of at least 60% of the vessel is accredited in national shipyards, in which case they must be less than 60 years old.

According to the Minister of Production and Labour, Dante Sica, the measure is the result of dialogue with all the players in the sector. The government believe that the DNU will improve the efficiency and security of the fishing sector as well as generating employment in national shipyards.

The Argentine fisheries sector exports over 90% of its production. In 2018, exports generated more than US$2bn in revenues, a 7% increase year-on-year. 60% of export revenues come from shrimp.

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