The Secretary of Agriculture, Livestock, Fisheries and Food holds the presidency of the Council. The Council also has an advisory commission composed of representatives of the labor unions and private firms. The Federal Fisheries Council is responsible for establishing national fisheries management, development and research policy, establishing total allowable catches (TAC) by species based on the maximum sustainable yields estimated by INIDEP (National Institute for Fisheries Research and Development), establishing annual catch quotas by vessel, species, fishing area, and fleet type, approving commercial and experimental fisheries permits, advising the implementation authority in international negotiations, establishing fishing rights and setting royalties, and regulating the artisinal fisheries sector by establishing a reserve quota for this group.
The Federal Fisheries Law –Federal Law N° 24.922- establishes the Federal Fisheries Council as the main body governing national fisheries policy. The Council is composed of the Secretary of Agriculture, Livestock, Fisheries and Food, one representative from each of the coastal provincies (Buenos aires, Río Negro, Chubut, Santa Cruz, Tierra del Fuego, Antartic and Islands of the South Atlantic); one representative from the Secretariat of Natural Resources and Sustainable Development, one representative from the Ministry of Foreign Affairs and International Trade; and two representatives designated by the President of Argentina.
Cod captures register strong decline off New England United States
Since a while ago, the United States has been forced to import cod from Norway, Russia or Iceland in the north Atlantic due to the decline of the fishery in New England, where the federal government has reduced capture quotas.
Two subsidiaries of Pacific Andes request to be declared bankrupt Hong Kong
As part of its restructuring process, Pacific Andes International Holdings (PAIH) announced that two indirect subsidiaries, Golden Target Pacific Limited and Nouvelle Foods International Limited, have filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code.