Russia and Argentina sign fisheries trade agreement

Russia’s government has approved a draft of an agreement with Argentina on fisheries cooperation. 

The agreement will make seafood exports from Argentina to Russia significantly easier and boost trade volumes, according to an announcement from the government of Argentina. Russian fishing will obtain a right to fish in Argentinian waters, the agreement stipulates.

The last agreement between the countries was signed in 1987 and lasted through 1992. In 2014, Russia introduced a ban on imported food from a number of countries in Europe and North America, and turned to South America for more agriculture products. In 2015, Russia initiated work on a trade agreement, and the countries exchanged visits of top officials. The parties agreed upon a draft in September,  which was then approved by the Russian government, a press service of the government announced.

The newly-signed agreement also includes a cooperative agreement to step up the fight against illegal, unregulated, and unreported (IUU) fishing; conservation and restoration of marine biodiversity and fish stocks; and work on scientific projects, including joint research, exhibitions, and seminars, data exchanges, and training in fishing and aquaculture.

A special Russian-Argentinian Fishery Commission will be established to see the agreement implemented. The agreement will last five years with the possibility a five-year extension.  

Besides gaining access to the Argentinean market, Russia also hopes to expand its exports of pollock to consumers in the South America. 

For its part, Argentina wants to beef up its presence in Russia, with its population of 144 million people. Total Argentinian seafood export to Russia increased by 82 percent in 2017 in comparison to 2016, making it Argentina’s third most-important external market. 

In 2017, Argentina exported USD 24.3 million (EUR 21.1 million) worth of red shrimp to Russia – 193 percent more than in 2016; in volume terms it was 3,545 metric tons (MT), up 154 percent from 2016.