This is a best prospect industry sector for this country. Includes a market overview and trade data
The STP EEZ has 160.000 km2, approximately 160 times the archipelago’s landmass. Consequently, adequate exploitation of sea resources is a unique opportunity for any business willing to invest. According to current data available from the Fisheries Directorate, the country has a catch capacity of around 29 thousand tons of fish per year.
According to STP Directorate of Fishing, between 2005 to 2017, fish catches increased from 4 thousand to 12 thousand tons per year, driving a financial flow of around $30 million per year.
In December 2019, STP and the European Union (EU) signed a new protocol to the fisheries partnership agreement with a financial contribution of €840,000 (or $854,722) per year for five years, out of which a specific contribution of €440 000 (or $447,709) is dedicated to the support of STP’s fisheries policy. This agreement allows EU vessels mainly from Spain, Portugal and France to fish in the STP waters and is part of the tuna network fisheries agreements in West and Central Africa. The first agreement was concluded in 2007.
STP also has a fishing agreement with Japan. In June 2017, São Tomé and Príncipe and the Chinese Province Fujian signed a fishing agreement that is still not in force.