FISHERIES

closed

Included in the project is the design and acquisition of 12 tuna purse seine fishing vessels, a training program for key crew members of these vessels, and harbor studies to provide data for possible future expansion of fisheries harbors. The project would introduce to Ecuador a more efficient method of fishing for tuna and would more than double present production. Studies carried out by the Inter-American Tropical Tuna Commission for the area in which the vessels would operate, in the Pacific off the Ecuadorian Coast, indicate that the abundance of tuna is more than sufficient to warrant the expanded exploitation which is envisaged. When all vessels are in full operation, an increase of over US$3 million in annual foreign exchange earnings is expected. This increase represents almost 45 percent of the foreign exchange earnings for the entire Ecuadorian fishing industry in 1967.