Guinea - Fishing

Guinea's annual ocean fisheries potential exceeds 200,000 tons, according to World Bank estimates. The total catch in 2000 was 91,513 tons, 96% from marine fishing. Domestic artisanal fisherman only catch about 13% of the estimated annual yield. Tuna is the most important catch. Many species found in Guinean waters are among the richest in West Africa and command high value. Exports of fish products in 2000 were valued at $25 million. Fishing contributes about 1.5% to GDP. A 1990 agreement with the European Union reflected a growing investment interest in the fishing sector. Since then, several small scale fishing ventures have been established, including a shrimp farming project financed by the African Development Bank, and development of private cold storage facilities in 14 different prefectures.