The European Union (EU) has suspended all fish imports from Sri Lanka, putting in place a ban that could cost Sri Lanka as much as $200 million.
The ban on Sri Lankan imports was announced in October 2014, in response to Sri Lanka failing to deal with illegal, unreported and unregulated fishing (IUU), a move praised by environmental non-governmental organisations, such as Greenpeace.
The EU alone had €74 million of imports in 2013, but Sri Lanka Seafood Association spokesperson Channa Weeratunge estimated that Sri Lanka could stand to lose as much as $200 million.
Since the ban came into effect on Thursday, Weeratunge said almost 1,500 tonnes of fish that was set to be exported to international markets had been diverted to domestic markets instead, causing falls in prices and subsequent losses. Without immediate action, 90% of Sri Lankan companies engaged in fishery imports may be forced to shut down added Weeratunge.
Sri Lanka's new prime minister Ranil Wickremesinghe has reportedly submitted a request for the ban to be lifted and a six month grace period to be started.
In 2012, Sri Lanka pledged to comply with fishing regulations, following complaints from the United Kingdom. Yet, in October 2014, the European Commission announced that despite intense dialogue with Sri Lanka, it still had not complied with international rules on illegal fishing.
See our earlier posts:
Sri Lanka promises to comply with fishing rules after UK complaint (13 May 2012)
EU bans fisheries imports from Sri Lanka (14 Oct 2014)
Greenpeace welcomes European ban on Sri Lankan fish (16 Oct 2014)
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