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01:04 GMT +3 hours23 December 2014
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Putin: Tie Fishing Quotas to Processing Capacity

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The quotas on catches of fish and other seafood that Russia provides to a foreign company should be tied to the amount of seafood processing capacity it builds in Russia, President Vladimir Putin said at the concluding press conference of the APEC summit in Vladivostok on Sunday.

The quotas on catches of fish and other seafood that Russia provides to a foreign company should be tied to the amount of seafood processing capacity it builds in Russia, President Vladimir Putin said at the concluding press conference of the APEC summit in Vladivostok on Sunday.

“We insist that the quotas issued [on marine bio-resources] be tied to the construction of processing capacity in Russia, Putin said.

"On the whole, our view is that this is a fair approach to resolving the issue,” he said.

The day before, Russia and Japan signed an agreement to combat crab poaching in the Sea of Okhotsk. Under the measure, Japan agrees not to allow the import of any crab meat that has not been certified by the Russian fisheries agency.