MINDANAO Business Council is now looking at a consortium with Brunei Darussalam on the exploitation of the fish reserves in the waters between the two countries.

In an interview Friday, MBC chair Vicente Lao said stakeholders of the fishing sector in Dipolog City, Zamboanga del Norte wants a joint cooperation with Brunei in order to boost the sardine canning industry of the country.

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"But the good thing about the small pelagic fishes of our territory is that it is not seasonal, unlike in Brunei," Lao said.

Some stakeholders, according to Lao, are already planning on putting up a full scale canning plant in Brunei.

The Sultanate, for its part, has openly welcomed the proposed consortium between the two countries, even endorsed by Brunei Darussalam's Sultan Hassanal Bolkiah during the 6th Brunei Darussalam, Indonesia, Malaysia, Philippines-East Asean Growth Area (BIMP-Eaga) Summit in Hua Hin, Thailand.

Meanwhile, Presidential Adviser on Mindanao Secretary Jesus Dureza bared that a 70-30 percent sharing will be in place with the Filipino stakeholders taking in 70 percent of the equity.

Filipino technology in the processing and canning of sardines will be used in the proposed processing plants.

Moreover, the tuna consortium between the Philippines and Indonesia is proving to be effective as more and more Philippine-based investors are taking over the tuna industry of Indonesia.

Indonesia has earlier banned the export of its tuna stocks to be processed in other countries, even requiring foreign fishing vessels to be flagged with their country.

Indonesia has restricted the foreign shipment of its raw tuna stocks as it strives to develop its own tuna industry.

"We are still currently in talks with Indonesia with regard the tuna industry," Lao said.

The move was in line with efforts to draw more foreign investments in Indonesia's tuna industry and create jobs for the locals.

The Philippine government is trying to work out the lifting of the ban by Indonesia in consideration of the local tuna industry in this city, touted as the "Tuna Capital of the Philippines." (CPM)