News Releases
Government Home Search Sitemap Contact Us  


Speaking Notes for
Honourable Tom Rideout
Minister of Fisheries and Deputy Premier
Address to Aquavision 2006
Stavanger, Norway
September 27, 2006


  •  I would like to begin by thanking the organizers of Aquavision 2006 for their kind invitation to open the session on capital nourishment here today. I commend you for putting together a world class event.
     

  • I would also like to thank the Canadian Embassy in Oslo for their support in arranging this.
     

  • Finally, I would like to extend my thanks to Fisheries and Oceans Canada and the Atlantic Canada Opportunities Agency for working with my department in preparing for this event.
     

  • It is certainly a pleasure to be back in Norway. I had the opportunity to visit Norway when I served as Minister of Fisheries for the Government of Newfoundland and Labrador in the 1980s.
     

  • I have visited many countries throughout the world during my time in public life. Norway is certainly one of the most distinctive and beautiful places I have visited, with its unique landscapes and breathtaking views.
     

  • Indeed, Norway has much in common with my own country of Canada � and particularly my own province of Newfoundland and Labrador.
     

  • Both Norway and Canada have strong ties to the sea. We share a cultural heritage that is rooted in the exploration and development of the rich resources of the ocean. This is demonstrated through our respective development of sectors such as offshore oil and gas, fisheries and, of course, aquaculture.
     

  • This brings me to the reason we are all here today. I have said many times when speaking in Canada that aquaculture is an idea whose time has come.
     

  • Most telling is the recent report from the Food and Agriculture Organization of the United Nations. This report indicates that aquaculture production, as percentage of all fish and seafood destined for human consumption has increased from 8 to 43% over the last 25 years. In fact, aquaculture will soon overtake the commercial fishing industry in this regard.
     

  • Of course, aquaculture is an idea which has flourished in Norway. Truly, Norway is a global leader in this sector.
     

  • I understand that Norway�s Aquaculture industry produced over 650 thousand metric tones in 2005, making your industry worth $2.1 billion US. I also understand there were over 2300 active aquaculture licenses in your country during the same period.
     

  • Perhaps the most telling thing about the Norwegian aquaculture sector is that it has been widely supported by both government and the business community.
     

  • In fact, the winning conditions for sustainable aquaculture in Norway are something which the rest of the world should aspire to.
     

  • On behalf of the Canadian aquaculture industry, I commend Minister Pedersen for launching a new aquaculture registry earlier this year.
     

  • It is absolutely critical that we as governments track developments in the aquaculture industry in order to provide access to information on licenses, financial information and important decisions that are made in relation to the industry.
     

  • This is exactly the kind of information that can help governments to ensure the right conditions for a healthy aquaculture sector, leading to greater private investment.
     

  • As Canada continues to develop our aquaculture sector, we look to Norway for lessons learned. There is much potential for further aquaculture development in Canada.

  • Our country has many positive attributes that can facilitate the development of aquaculture. We are bordered by the Atlantic, Pacific and Artic Oceans, as well as the Great Lakes and have an abundance of fresh water throughout our vast nation.
     

  • We have with us here today some of my municipal level colleagues from the west coast of Canada where the aquaculture sector has a strong presence.
     

  • Canada is located next door to one of the world�s largest seafood markets � the United States of America. Eastern Canada is strategically located between the two major markets of both the United States and Europe, while our western provinces enjoy access to the Asian market.
     

  • Preliminary figures indicate that the total value of Canadian aquaculture exports in 2005 was $460 million US. This represents an increase of over 20% from 2004 when the value of Canadian Aquaculture exports was $389 million US.
     

  • I note that the theme of this year�s conference is Oceans of opportunity � Strategies for sustainable aquaculture.
     

  • An important element of any strategy is science. With Canada�s strong science capacity, we are making important contributions to the understanding of aquaculture-environment interactions. This informs our decision-making. Science is also making important advances in cages, feeding, genomics, and fish health technologies.
     

  • In fact, in 2005, Canada launched a new National Aquatic Animal Health Program which integrates marine ecosystem science with veterinary practices.
     

  • In June of this year, I had the opportunity to visit the integrated aquaculture research facility at St. Andrew�s Biological Station, in New Brunswick. It is truly a world class research facility for aquaculture development and I strongly encourage all of you to visit if you have the opportunity.
     

  • Scientists at the station have adopted a multi-disciplinary approach to aquaculture research that is intended to enhance the economic and environmental sustainability of the Canadian aquaculture industry.
     

  • Also in St. Andrew�s, government and academic institutions have come together to carry out a $3.3 million program in Halibut aquaculture research.
     

  • Canadian Halibut Inc., along with its partners in government and academia will undertake a research project to determine the viability of raising halibut in an aquaculture environment in Canada.
     

  • In my own province of Newfoundland and Labrador, ninety percent of our potential aquaculture sites are available for development. We are actively pursuing aquaculture development as a key component of our economic plan for the future of the province.
     

  • To that end, we are becoming competitive in the science of farming cod. Our government has committed $2 million to take the next step to commercialize cod aquaculture through the creation of a commercial-scale cod demonstration farm.
     

  • Capital nourishment and investment attraction are also key components of Canada�s renewed commitment to aquaculture. In 2005, the Canadian Council of Fisheries and Aquaculture Ministers committed to developing a harmonized, streamlined and effective governance structure for aquaculture in Canada.
     

  • It is our hope that a revitalized and effective regulatory structure will improve the access to sites and see development of aquaculture in Canada, as well as provide industry with a climate to attract new investment and expand their business.
     

  • In Newfoundland and Labrador, our 2006 budget introduced a new Aquaculture Capital Incentive Program. This program was designed to address the lack of investment capital in the sector.
     

  • The purpose of this fund will be to attract new investment, expand existing operations and see more rapid economic development benefits from aquaculture development.
     

  • While the world demand for seafood continues to rise, limits to the sustainable exploration of wild stocks have been reached and exceeded.
     

  • In some cases, we have reached a point where once immense fisheries stocks have been brought to the brink of extinction. In my own province, we have been dealing with the impacts of a cod moratorium since 1992. It has been simply devastating for our rural economies.
     

  • In addition to the pressure on wild stocks, many areas are facing overcapacity in the processing sector. This is particularly true in the modern global environment as seafood processing work shifts to low-cost producing regions.
     

  • The additional seafood products needed to best utilize these processing facilities can come from aquaculture development.
     

  • As the world continues to urbanize and employment opportunities move to the cities, aquaculture stands as a shining star among the sectors that can create year-round employment in rural regions.
     

  • Attracting investment is critical to the development and expansion of the sector, and the future of many coastal communities.
     

  • The theme of this session today is Capital Nourishment � Financing the world�s fastest growing food sector.
     

  • Aquaculture is expanding every day in many regions throughout the world, providing year round availability of high quality seafood to the plates of consumers across the globe.
     

  • But in a world where business opportunities abound, how do governments and the aquaculture sector attract capital? What conditions do we need to create in order to attract investment? Furthermore, how do we address concerns regarding farmed seafood products and the methods for producing them?
     

  • These are the challenges we all face as we move forward in this sector.
     

  • The world is a smaller place than ever before. The Internet provides instant access to information and opportunities. Investors are more sophisticated and informed, and capital is more mobile.

  • People have the ability to invest in countless companies across the globe, at any time, in any industry.
     

  • These modern global realities make it all the more import to address the challenges if aquaculture is going to be the industry of choice for investors.
     

  • Therefore, we must work to make it easier for capital to move across international lines swiftly, with ease, both within and to the aquaculture sector.
     

  • We must also ensure that investors are achieving attractive returns so that aquaculture will be the sector of choice for future investment decisions.
     

  • Governments must create smart regulatory environments that better integrate industry practices and codes that respond appropriately to both good and poor industry performance.
     

  • Industry must continue to invest in science and integrate that new knowledge into its operations.
     

  • Everyone in this rooms knows the potential that aquaculture holds for the future. Now we must communicate that message to the world. Everyone working in aquaculture, be they in industry or government, has a responsibility to be an ambassador for this sector.
     

  • Aquaculture has faced its share of criticism, both fair and false. As a sector we have made exceptional strides in addressing these issues.
     

  • Yet we have not been very good at getting this message out. On too many occasions we hear decades old arguments against aquaculture but we do not hear about the solutions which have been implemented to address those old problems.
     

  • Working to inspire investor confidence demands that we let the public know, on a proactive basis, that solutions have been found. Together we need to make investors aware that our industry and regulatory frameworks are effective, efficient, stable and responsible.
     

  • In truth, the world is changing in terms of how people purchase and consume food. The global demand for healthy, year round sources of protein is growing as the world becomes more aware of the need for good nutrition.
     

  • The demand for seafood outstrips the ocean�s ability to meet this demand. We need both a sustainable wild harvest and sustainable aquaculture to meet this demand.
     

  • As human beings, we mastered the ability to farm beef, chicken, pork, vegetables and grains thousands of years ago. Today, farming the seas is an idea whose time has come. Is it not our responsibility to get this message out to potential investors?
     

  • And with that, I call upon the first speaker.
     


SearchHomeBack to GovernmentContact Us


All material copyright the Government of Newfoundland and Labrador. No unauthorized copying or redeployment permitted. The Government assumes no responsibility for the accuracy of any material deployed on an unauthorized server.
Disclaimer/Copyright/Privacy Statement