Tuvalu's resource potential lies solely in the waters of its 3.2 million square miles exclusive economic zone (EEZ.) Its rich fish stocks are being exploited mainly by foreign boats in return for licensing fees. However, Japan has donated fishing boats to Tuvalu and deep-water fishing is being developed. Hopes of valuable mineral reserves have been raised by the discovery of an undersea mountain in the EEZ. Solar energy is being developed to cut the use of petrol for power generation. Fuel accounts for about 14% of import costs.
