Members of the Parties to the Nauru Agreement are looking at new ways to buy and sell access to fishing days in their areas.
A record price of 13,000 US dollars was reached this year for a single day of purse seine fishing during trading between those PNA nations which needed extra days and those which still had extra capacity.
The CEO of the PNA office based in the Marshall Island, Dr Transform Aqorau, says the trading days scheme is becoming increasingly sophisticated.
Dr Aqorau says he is excited about what is happening in the fishery and the vessel day scheme.
"In fact there is a group of countries that have decided to pool their days for 2015, they've actually issued inivations for comapnies to tender for their days and they'll be meeting in Nadi to look at the tenders and this is all new stuff."
Dr Transform Aqorau says he won't be surprised if in the next 12-24 months people will see individual countries running their own auctions, doing electronic trading, auctioning, tendering of days and maybe even having like a little trading house for days.
Photo: AFP