The United Nations Industrial Development Organization (UNIDO) and the OPEC Fund for International Development (OFID) will combine their technical and financial resources to help improve the productivity and competitiveness of shrimp value in the Latin American Region.
Colombia, Cuba, the Dominican Republic, Ecuador, Mexico and Nicaragua will be working with the organizations to enhance regional cooperation in the field. The project will cost $1.2 million, including a $300,000 grant, which was signed in Vienna today by UNIDO Director General Li Yong.
“For Latin American countries such as Colombia, Cuba, Dominican Republic, Ecuador, Mexico and Nicaragua the shrimp farming sector represents an important source of income," Yong said. "However, in most of these countries there is a need to enhance the productivity and competitiveness of the sector and its compliance with international quality and environmental standards.”
Aquaculture, especially shrimp farming, has been a vital source of economic growth in developing countries. Shrimp farming represents 15 percent of the total value of the fishery products internationally traded in 2011. Ecuador and Mexico are currently among the largest producers in the sector at regional level.
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