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President Vladimir Putin held a meeting in Vladivostok on how to develop Russia’s fishing industry and make it more competitive.

The industry has reserves in all areas that it can make use of to develop rapidly. So far, however, change in the sector has moved very slowly and consumers have not noticed it at all, the President said. Most fishing industry businesses are experiencing serious financial difficulties.

Mr Putin noted that the entire fishing industry is heavily focused on export markets, supplying largely unprocessed products abroad. At the same time, the country’s imports of highly processed fish products are constantly increasing. Eighty percent of the fishing sector’s production gets sent abroad without going through any customs control.

Mr Putin said it would be possible to decriminalise the sector and make it prosperous so long as the relevant plans and decisions are carried out. The President will give the according instructions to the government.