Additional funding announced will serve to strengthen industry

Gerry Reid, Minister of Fisheries and Aquaculture, today announced $254,000 in continued funding which will serve to further enhance the department�s Quality Assurance and Inspection Program. In an effort to stimulate new opportunities in the fishing industry, the department, with the support of industry, implemented this program in 2000. The province has achieved great success and gained international recognition as a world leader in the production of premium quality products through this initiative.

"Increasing the production and consistency of premium quality seafood products is a priority for our department and will serve to maximize economic returns to Newfoundland and Labrador," said Minister Reid. "With an export value of $1 billion for the second consecutive year in 2000, this industry has become more viable and sustainable, and with consistent superior quality we will continue to be a significant player in the international marketplace."

The department will also provide $100,000 in continued funding for the Community Fisheries Infrastructure Program, bringing the total amount of program funding to $350,000 for 2001-2002. "This program is one of the most beneficial of its kind for rural fishing communities with existing infrastructure in disrepair," said Minister Reid. "Funding allows communities to maintain and repair fisheries infrastructure, which is vital to the further growth and diversification of the industry."

During the 2001-2002 fiscal year, the department will also continue to provide funding for the new fish price negotiation process that was implemented by government and industry as a result of the Task Force Report on Crab/Fish Prices. This funding will be used to assist with market research and intelligence initiatives. "The department will contribute $102,000 to this program which has proven highly successful in providing efficient and equitable processes for governing the settlement of fish prices between fish harvesters and buyers," said Minister Reid.

Minister Reid also announced that the department would provide additional funding in the amount of $300,000 to the Fisheries Conservation Chair at Memorial University. The money will ensure the continuation of the important work done by the chair, particularly in regard to its meaningful role in the development of fisheries conservation research and the advancement of scientific research on Newfoundland and Labrador fish stocks and marine ecosystems.

During 2001-2002, the department will also work with industry and the federal government to continue the Fisheries Diversification Program. This program, which supports diversification opportunities in the fishing industry, will invest $10 million as part of the cost-shared Canada-Newfoundland Agreement on Economic Development and Fisheries Adjustment.

Media contact: Elizabeth Matthews, Communications, (709) 729-3733.

2001 03 22         4:05 p.m.