Palau is hosting a delegation from the Philippines who are coming to hold more exploratory talks over a possible joint investment venture in the island's fishing grounds.
The two day meeting in Koror takes place today and tomorrow.
Among the key issues will be talks over the hefty fish export tax and the establishment of an alternative trans-shipment point to cut operational costs.
Bayani Fredeluces, the executive director of the Soccsksargen Federation of Fishing and Allied Industries Inc told a Philippines paper that ten local fishing firms are represented in the delegation.
The federation is the umbrella body for seven Philippine tuna fishing industry associations.