Rui Alberto Pereira, speaking on the sidelines of the second CE-CPLP Economic Business Forum in Bissau on Wednesday, emphasized the theme: “Food Security, Technology, and Sustainability,” drawing around 100 entrepreneurs.
The ANAPI official, an invited guest at the forum, expressed bewilderment at Guinea-Bissau’s lack of focus on the fisheries sector, which he argues is the country’s economic driver, surpassing cashew nuts, its primary agricultural and export product.
“The fish stocks from Guinea could bring in a billion euros annually to the state’s coffers, if we just sit down and do the math,” stated Rui Pereira, referencing the business dealings with the European Union (EU).
He pointed out the state receives 17 million euros annually from the EU under a fishing agreement, while the EU makes 310 million euros from the fish purchased from Guinea-Bissau.
Rui Pereira cited Eurostat, the EU’s statistical office, data corroborated by the International Monetary Fund (IMF).
The Guinea-Bissau official further argued that the country loses approximately 210 million euros annually at Senegalese ports, due to fish being landed in Senegal because of inadequate landing conditions in Guinea-Bissau.
“Do the math, and we are already losing over 500 million euros that do not come to Guinea,” noted Pereira, also highlighting the issue of illegal fishing, “sometimes institutionalized” in Guinea’s waters.
The ANAPI president said the way forward is to invest in a national fleet, acknowledging it as “a heavy investment,” but believing it could change how the fisheries sector is perceived in Guinea-Bissau.
Rui Pereira remarked that “the fish itself is already a guarantee” for any investment, noting that the EU pays compensation funds in advance for fishing in Guinea-Bissau waters.
The ANAPI president observed that the cashew sector—Guinea-Bissau’s main export product, generating 210 million euros annually—impacts the economy for only six months, whereas the fishing sector has year-round potential.
Pereira considers the disparity between the commercial value of fish and cashew in Guinea-Bissau to be glaring but praises an IMF report advising the government to pay more attention to the fisheries sector for state revenue collection.
The head of the industrial fishermen’s association invited CPLP entrepreneurs to “join” Guinea-Bissau in exploring the many potentialities he said exist in the fisheries sector.
