The Government in the Papua New Guinea province of Bougainville is negotiating its first joint venture with foreign investors.
Last week the President Joseph Kabui told the assembly that the province had to diversify and expand its economy from the traditional crops of cocoa and copra.
He says this week the government has been talking with Australian investors who have mooted a scheme to involve local fishermen, who, using banana boats, would fish around the province's reefs.
Mr Kabui says the Australians have extensive experience in reef fishing.
"Both with the live fish being exported to China, to Hong Kong, Japan, those sort of places and at the same identifying markets for fish that get killed in the process."