Engaging in the FiTI appeals to all stakeholders that appreciate the enormous value of marine fisheries, in terms of food & nutrition security, employment, the value to national economies, as well as the cultural significance of fishing.
Promoting these positive features of fisheries lies at the heart of the FiTI.
The FiTI provides a number of tangible benefits for coastal countries at the national and international level. These will vary depending on the national context.
Benefits by stakeholder
|National authorities of coastal states
|Benefit from an enhanced political reputation by demonstrating a clear commitment to good governance for responsible fisheries. This can lead to increased trust and an improved contracting, trade and investment environment.
Furthermore, it helps demonstrating that the country is getting a fair deal for its fishery resources, contributing to greater economic and political stability and food security.
|Industrial fishing companies
|Benefit from an enhanced reputation in the market and a ‘level playing field’ where all companies provide information according to a coherent framework.
|Benefit from an increased recognition of their contribution to the country’s food security and development, while improved transparency supports responsible governance of tenure that is needed for securing sustainable small-scale fisheries.
|Benefits from an enhanced ability to hold governments and companies accountable through an increased amount of information in the public domain. Furthermore, civil society organizations will benefit from greater involvement in the production of credible information on fisheries, being recognized as an equal stakeholder in the country’s national Multi-Stakeholder Group.
Benefits by subject
|Governments of host countries benefit from an enhanced political reputation by demonstrating a clear commitment to good governance for responsible fisheries. This can lead to increased trust and an improved contracting, trade and investment environment.
|Boosts economic growth and foreign investment
|Increasingly, foreign investors, suppliers and international donors base their investment decisions on an assessment of the quality of a country’s governance as well as political risks.
For coastal states this may become increasingly important given the attention for new investment and financial support for achieving and developing sustainable ‘blue economies’.
|Increases public recognition
|Open information increases the attention for sub-sectors or sub-groups in the industry, who may have otherwise been marginalized, such as the role of women in fisheries. And it provides the entire sector with more visibility in national conversations.
|Shields against misinformation and unfair adverse publicity
|Consumers and retailers are wanting to know that the fish they are buying has been sourced from well managed resources. Fish coming from countries where management lacks transparency will come under increasing scrutiny. Contrary, where information is openly shared with the public, misinformation or rumours are prevented.