Strengthening and Growing Our Fishing and Aquaculture Industries

Trevor Taylor, Minister of Fisheries and Aquaculture, is confident that strategic investments will strengthen the province�s fishery and help grow the burgeoning aquaculture industry.

"It is clear that our province�s fiscal situation means that we need to target opportunities with the greatest economic potential," said Minister Taylor. "In my view, Budget 2004 initiatives for fisheries and aquaculture are good examples of a strategic approach that is needed to strengthen the foundations of the Newfoundland and Labrador economy."

The recommendations of the Fish Processing Policy Review Commission (Dunne Report) are the pillar of a renewed provincial fishery policy designed to revitalize the province�s fishing industry. The provincial budget has allocated $1.25 million to fund the implementation of the Dunne Report, initiatives that will help stabilize the industry and improve final product values. On a cost-recovery basis, this means the Department of Fisheries and Aquaculture will strengthen the Quality Assurance Program (QAP), improve training, create an arms-length Fish Processing Licensing Board, and establish new enforcement and compliance measures.

Minister Taylor is confident that this will financially benefit the industry and, in turn, the economy of the province.

"The Dunne Report found that in 2003 alone the fishing industry gained $30 to $40 million from the province�s Quality Assurance Program," said the minister. "It is not unrealistic that millions of dollars can be realized through additional quality standards, by increased training for inspectors and industry participants, and by improving the enforcement and compliance of fishery regulations. Any fee adjustments to fund these initiatives should be more than recouped by the improved value of our province�s seafood."

Minister Taylor points also to the targeted focus of industry development programs. A $550,000 investment in aquaculture will support fish health services, extension services, and investment prospecting. In addition, $450,000 for the Fisheries Development and Diversification Program will support areas such as innovative fisheries opportunities, quality enhancement, secondary processing, and market development.

"To grow our aquaculture industry, we are focusing our attention on the primary species that have the best economic opportunity. Species such as Atlantic salmon, steelhead, blue mussels, and Atlantic cod are the future of aquaculture in our province," said the minister. "I also firmly believe that we need to attract private sector investment to take our aquaculture industry to the next level. In addition to building the industry through activities such as environmental monitoring and an Aquaculture Health Program, we are going to fund the promotion of development opportunities to worldwide companies."

Minister Taylor added, "This is also about investing in partnership and collaboration. The Fisheries Development and Diversification Program funds projects that are in line with our fishing industry�s economic development priorities, particularly in rural Newfoundland and Labrador. By working with industry, regional development organizations, fisheries research organizations, and other federal and provincial departments, the provincial government can better identify meaningful economic opportunities."

Media contact: Alex Marland, Communications (709) 729-3733

2004 03 30                                         3:10 p.m.