On 18 May, the Far East and Arctic Development Corporation (FEDC) and the Russian Federal Research Institute of Fisheries and Oceanography (VNIRO) singed a cooperation agreement in VNIRO's new building. The document was signed by the FEDC Deputy General Director for the Development of the Fisheries Industry Ivan Novikov and the Director of VNIRO Kirill Kolonchin.

As part of the agreement, the parties plan to develop technologies and recommendations for intensive cultivation of aquatic bioresources. They will also prepare proposals for strengthening cooperation between scientific, educational and business institution for conducting basic and applied research in the field of fishing and fish farming.

According to FEDC, today the Far East and the Arctic are the main macroregions of the Russian fishing industry. Fishermen from the Far East account for more than 70% (3.6 mn tonnes) of all aquatic bioresources caught in the country, while the Arctic fishermen account for more than 10% (600,000 tonnes).

Ivan Novikov, deputy general director of FEDC for the development of the fisheries industry, said, "Today we have signed an important agreement on strategic cooperation. On the one hand, FEDC is responsible for the development of Russia's two key fishing industry macroregions. Our mission is to be a bridge between businesses, people and the state. On the other hand, VNIRO, as the industry's main research institute, acts a bridge between science and regulatory authorities. This cooperation will help to balance out the interests of all participants of such a large-scale and diverse sector of Russian economy as the fishing industry and ensure its active development".

Ivan Novikov added that investments in the fishing industry will help to improve the quality of Russian fish products, create new jobs with decent wages in the Far East and the Arctic, develop related industries and ensure the country's food security. However, when implementing projects it is extremely important not to forget about the rational use of resources and their replenishment, which requires a balanced scientific approach. This is why cooperation with VNIRO has strategic importance.

The effective use of advanced scientific practices developed by VNIRO specialists in investment models will allow to create a 'Smart Business' format. This will ensure a balanced use of resources, increase the speed at which aquatic bioresources are replenished and saturate the domestic market with quality and affordable products. But most importantly, it will preserve Russia's bioresources for future generations.