The MOU signed with Chinese Foreign Minister here on Wednesday would accelerate the process of industrialization of the country`s fishery sector, Sharif said.
The process of industrialization would begin with investment in integrated facility in sea fishery sector, he said on Thursday.
He said under the initial agreement, it is considered to develop supporting facility such as shipyard for fishing ships in Indonesia.
Investment would also be made to improve the skills fishing vessel crew members who work in a joint investment with Chinese investors, he said.
Cooperation would also be expanded in fish breeding, fish processing and fish marketing, he added.
The MOU also includes cooperation in the eradication of illegal fishing.
The signing of the agreement is strategic as it took place at the same time with the APEC summit meeting in Bali.
Earlier Indonesia was accepted as "non-cooperating member" in the Inter America Regional Tuna Fishery Organization (IATTC).
Last month Indonesia ratified the convention for full membership of Indonesia in the West and Central Pacific Fishery Commission (WCPFC).
"Indonesian participation in the two regional fishery organizations and cooperation with China could contribute to expansion of sea fishing fleet," Sharif said.
He said strengthening of the fishing fleet is feasible as there are still potential fishing ground for expansion of sea fishing operation to increase the country fish production.