Oman Fisheries inks MoU with Japanese firm

15/06/2017 01:02 AST

Oman Fisheries Company, the Sultanate's largest fish processing enterprise, has announced the signing of a Memorandum of Understanding (MoU) with Kyumura of Japan covering the joint implementation of a number of initiatives designed to support the development of its fishing fleet. The goal is to leverage the capabilities of Oman Fisheries' vessels in the commercial fishing of tuna and other high value species that enjoy strong demand in Japan and various European markets, the Muscat-based firm said in a filing to the Capital Market Authority (CMA).

As part of the MoU, Oman Fisheries will explore the "possibility of taking advantage of Japanese experience to establish a factory with international specifications for value-added marine products to enhance the brands of the company", it said.

"Cooperation with the Japanese company is one of the future projects of Oman Fisheries Company to enhance its presence on the map of economic production. Pilot fishing for the project has already begun with (the deployment of) a fishing vessel belonging to the Japanese company Kyumura along with Oman Fisheries' recently re-operated fishing fleet," it further stated.


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