The Pacific Islands Forum Fisheries Agency (FFA) announced that it has received a US$60 million payment for 2024 from the United States government under the Economic Assistance Agreement (EAA) associated with the Treaty on Fisheries.
The payment, which was confirmed by U.S. Deputy Secretary of State Christopher Landau earlier in the week, will be allocated to the 16 Pacific Island Parties that comprise the FFA’s membership.
“This is a positive and welcome development, and a clear demonstration of the US Government’s commitment to the EAA, the Treaty, and its cordial relationship with Pacific Island States,” said FFA Director-General Noan David Pakop.
Pakop expressed confidence that the initial payment would be a positive sign for the future of the agreement.
“We are confident that this initial payment will pave the way for the approval of the 2025 payment and future payments under the EAA,” he said.
The Treaty on Fisheries, which allows U.S. purse seine fishing vessels to operate within the Exclusive Economic Zones (EEZs) of the Pacific Island Parties, has been in effect for 37 years since it came into force in 1988.
Its terms and conditions have been periodically renegotiated, with the latest extension concluded in June 2024, extending the agreement for the next 10 years (2023-2033) with revised terms and a new financial package.
The 16 Pacific Island Parties involved are: Australia, Cook Islands, Federated States of Micronesia, Fiji, Kiribati, Marshall Islands, Nauru, New Zealand, Niue, Palau, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu, and Vanuatu.