On Food Security:

• Prepare and implement a Comprehensive National Fisheries Industry Development Plan;
• Formulate and implement a Comprehensive Fishery Research and Development Program;
• Coordinate efforts relating to fishery production undertaken by the
  fishery producers, LGUs, FARMCs, and fishery organizations/cooperatives;
• Coordinate with LGUs and other concerned agencies for the
  establishment of productivity enhancing and market development programs
  in fishing communities;
• Perform such other related functions which shall promote the
  development, conservation, management, protection and utilization of
  fisheries and aquatic resources.

On Conservation and Management:

• Issue licenses for the operation of commercial fishing vessels;
• Issue identification cards free of charge to fish workers engaged in commercial fishing;
• Monitor and review joint fishing agreements between Filipino
  citizens and foreigners who conduct fishing activities in international
  waters;
• Establish a corps of specialist in collaboration with the Department
  of National Defense, Department of Interior and Local Government,
  Department of Foreign Affairs, for the efficient monitoring, control and
  surveillance of fishing activities;
• Enforce all laws, formulate and enforce all rules and regulations
  governing the conservation and management of fishery resources, except
  in municipal waters, and to settle conflicts of resource use and
  allocation in consultation with the NFARMC, LGUs and local FARMCs;
• Formulate rules and regulations for the conservation and management of straddling fish stocks and highly migratory fish stocks.

On Global Competitiveness:

• Advise and coordinate with LGUs on the maintenance of proper
  sanitation and hygienic practices in fish market and fish landing areas;
• Implement an inspection system for import and export of
  fishery/aquatic products and fish processing establishments consistent
  with international standards to ensure product quality and safety.
  Develop value-added fishery products for domestic consumption and
  export. 

On Support Services:

• Establish and maintain a Comprehensive Fishery Information System;
• Provide extensive development support services in all aspects of fisheries production, processing and marketing;
• Provide advisory services and technical assistance on the improvement of the quality of fish;
• Assists the LGUs in developing their technical capability in the
  development, management, regulation, conservation and protection of the
  fishery resources.

By Virtue of RA8550, BFAR is mandated to:

• Prepare and implement a Comprehensive National Fisheries Industry Development Plan;
• Issue licenses for the operation of commercial fishing vessels;
• Issue identification cards free of charge to fishworkers engaged in commercial fishing;
• Monitor and review joint fishing agreements between Filipino
  citizens and foreigners who conduct fishing activities in international
  waters, and ensure that such agreements are not contrary to Philippine
  commitment under international treaties and convention of fishing in the
  high seas;
• Formulate and implement a Comprehensive Fishery Research and Development Program;
• Establish and maintain a Comprehensive Fishery Information System;
• Provide extensive development support services in all aspects of fisheries production, processing and marketing;
• Provide advisory services and technical assistance on the improvement of quality of fish from the time it is caught;
• Coordinate efforts relating to fishery production undertaken by the
  primary fishery producers, LGUs, FARMCs, and fishery
  organizations/cooperatives;
• Advise and coordinate with LGUs on the maintenance of proper
  sanitation and hygienic practices in fish markets and fish landing
  areas;
• Establish a corps of specialist in collaboration with the DND, DILG,
  DFA, for the efficient monitoring, control and surveillance of fishing
  activities within Philippine territorial waters;
• Implement an inspection system for import and export of
  fishery/aquatic products and fish processing establishments consistent
  with international standards to ensure product quality and safety;
• Coordinate with LGUs and other concerned agencies for the
  establishment of productivity enhancing and market development programs
  in fishing communities to enable women to engage in other
  fisheries/economics activities and contribute significantly to
  development efforts;
• Enforce all laws, formulate and enforce all rules and regulations
  governing the conservation and management of fishery resources, except
  in municipal waters, and to settle conflicts of resource use and
  allocation;
• Develop value added fishery products for domestic consumption and export;
• Recommend measures for the protection/enhancement of the fishery industries;
• Assist the LGUs in developing their technical capability in the
  development, management, regulation, conservation, and protection of the
  fishery resources;
• Formulate rules and regulations for the conservation and management
  of straddling fish stocks and highly migratory fish stocks; and
  
• Perform such other related functions which shall promote the
  development, conservation, management, protection and utilization of
  fisheries and aquatic resources.