All fisheries catches must be processed in Papua New Guinea (PNG) for export, rather than being sent overseas. This is the directive issued by the PNG Prime Minister James Marape, following the recent signing of the memorandum-of-understanding (MOU) between RD Fishing Group (RDFG) of the Philippines and the PNG Government. As part of the MOU, RDFG and the PNG Government will enter negotiations to establish a fishing company in Madang. The primary objective of this agreement is to define the commercial terms for a joint-venture (JV) company, responsible for fishing and processing all catches, within a new cannery located in the Pacific Marine Industrial Zone (PMIZ) in Madang. The PMIZ is designated as a Special Economic Zone (SEZ). Despite PNG having the largest Exclusive Economic Zone (EEZ) in the South Pacific and controlling around 15 percent of the global tuna trade, with an estimated value between K13.3-K16.9 billion, most of this catch is currently processed overseas, depriving the country of significant benefits from its maritime resources. "I will soon issue notice to all fishing companies operating within our waters that, under our Domestication Policy, all catches must be brought back inshore and processed in the country,” Prime Minister Marape said. He emphasised that there will be no unmarked ships in PNG waters, no high-seas fish transfers to overseas motherships, and all fishing vessels in our territorial waters will be equipped with cameras to monitor their catches. Processing of our fish in-country must be implemented within the next four years. Prime Minister Marape expressed appreciation for Minister Jelta Wong's strong leadership in the fisheries sector and acknowledged the continuous growth of the industry as a significant revenue generator for the country. "The fisheries sector, under the NFA, is expanding and contributing sustainable revenue to our nation. We must further foster its growth.” The MOU was signed by the Prime Minister alongside top level executives from RDFH, National Fisheries Authority, Kumul Consolidated Holdings (KCH), International Trade and Investment and State Enterprises. A State Negotiating Team (SNT) has been appointed and granted a three-month period to finalise negotiations and present a mutually agreeable proposal to the National Executive Council. Successful outcomes from these negotiations will pave the way for the establishment of the proposed new fishing company. PM Marape further commended RDFG for being the pioneer in downstream tuna processing since 1997 and for providing employment opportunities to thousands of Papua New Guineans