Invest in Russia — invest in Russian regions!
All news

Global Fishery Forum to determine how to boost the value of Russia’s fish business

13 May 2019
Участники МРФ-2019 определят пути увеличения стоимости рыбного бизнеса в России

The business programme of the III Global Fishery Forum includes, among other key events, the conference “Value of the fishing industry: how to assess the efficiency of commercial use of the national resource?” Representatives of federal departments, fishing companies and associations, analysts and experts of international financial organizations will discuss increasing capitalization of the fishing business, including in Russia.  Experts will consider the main global trends, the reasons for both high and low added value of enterprises and the entire industry in different countries, as well as various tools and methods for financial evaluation.        

In recent years, Russia has held a strong position among the Top 10 leaders of the global fishing industry by catch of aquatic bioresources. Russia accounts for about 5% of the world's catches and ranks 11th among aquatic bioresources exporters. In 2018 Russian fish product exports amounted to USD 5.2 bn. According to foreign experts, Russia boasts one of the most effective systems for fisheries management and control over the safety of aquatic bioresources. Yet the industry’s capitalization is low, with Russia accounting for less than 1% of global fish business capitalization.      

The Undercurrent News agency has been compiling a list of the biggest fishing corporations by capitalization for several years. The TOP-100 on the global fish market includes only one Russian fishing company with revenues of over USD 300 m a year.

 “It is very important for fishermen to be able to use credit resources, so they need to know exactly how the fishing business is now assessed by banks”, explains Ilya Shestakov, Deputy Minister of Agriculture of Russia and Head of the Federal Agency for Fisheries. “The dialogue with experienced international experts at the Forum will give us an understanding of how we can boost Russia's position on the global fish market and strengthen the financial position of our companies”, he stressed.

The conference will also discuss the impact of the state on capitalization of the fishing industry, the recent growth of mergers and acquisitions in the industry, accounting and legal aspects of capitalization of Russian industrial enterprises.

The Forum’s business programme will also feature a plenary session “Ocean of opportunities: Nature, Economy, and People”, sessions on topical issues of digitalization in the fishery industry, the resource potential of the Arctic and Antarctic, and addressing problems of economic and social development of territories with the help of fisheries. 

“Over the last two years, the Global Fishery Forum in St. Petersburg has become a significant event for the global fish market. It is attended by the heads of the biggest fishing corporations, world-renowned scientists and heads of fishing departments of leading nations. So it is vital to discuss topical and resonant problems of world and Russian fisheries at the Forum. In addition, the GFF opens up opportunities for direct and effective negotiations not only with partners on the fish market but also with manufacturers of equipment for fishing and fish processing, all of which will help increase exports”, believes German Zverev, President of the All-Russian Association of Fisheries Enterprises, Entrepreneurs and Exporters.

The III Global Fishery Forum and International Exhibition of Fish Industry, Seafood and Technology (Seafood Expo Russia) will be held in St. Petersburg from 10 to 12 July 2019. The venue will be the EXPOFORUM Convention and Exhibition Centre.