Fisheries learning exchanges (FLEs) bring together fisheries stakeholders to share best practices. Recent research has shown that there are various factors that determine a FLE’s success. The objective of this case study was to probe the applicability of and refine existing guidelines on FLE best practices by examining a FLE where a delegation of fishers from Andavadoaka, Madagascar traveled to Bahia de los Angeles, Mexico to share knowledge surrounding octopus fishery management in 2016. This FLE was part of a FLE series between Mexico and Madagascar that occurred over the course of a year. Twenty-four total key informant interviews pre- and post-FLE and participant observations were used as the primary sources of data. Interviewees suggest that the Malagasy fishers did learn specific strategies from the Mexican participants, including profit-making activities, as well as potentially environmentally-damaging practices. Interviewees expressed that the learning was primarily one-way (visiting Malagasy fishers learning from the host Mexican fishers) and the FLE in general was most beneficial for the participating non-governmental organizations. FLE organizers were concerned about the applicability of lessons learned from Mexico to Madagascar and about the stress on Malagasy participants due to the difference in geographic and socioeconomic contexts. The FLE also involved complicated logistics, which reduced the organizers’ capacity during the planning phase. Interviewees suggest that this FLE to Mexico was not necessary to achieve the overall purpose of the FLE series. Based on our results, we provide recommendations for future organizers when there is a difference in geographic and socioeconomic contexts, so that organizers are more likely to implement the appropriate configuration of FLE and save resources.