The following statement was given today in the House of Assembly by the Honourable Keith Hutchings, Minister of Fisheries and Aquaculture:

Fishery to Grow Beyond $1 Billion in Production Value Through
Comprehensive Economic and Trade Agreement

Mr. Speaker, I rise in this Honourable House to highlight what has been gained through the recently signed Agreement-in-Principle on the Comprehensive Economic and Trade Agreement between Canada and the European Union.

Mr. Speaker, years of tough negotiation by the Provincial Government has achieved unrestricted access to the richest seafood market in the world, and created a new era of opportunity for the provincial fishery. Tariff barriers as high as 20 per cent and end use restrictions on our high quality seafood will be no more. These gains are expected to generate $25 million for the provincial fishing industry when the agreement comes into effect, and add as much as $100 million to the industry annually.

In addition Mr. Speaker, we created an unprecedented cash infusion into the provincial fishery when we successfully negotiated a new $400 million federal-provincial industry enhancement fund. With this fund we will advance research and development. We will explore new marketing opportunities. We will increase fisheries science activity. We will enhance provincial fisheries infrastructure. Mr. Speaker, with this fund we will make the industry more competitive than any other time in its history, and the families that rely on the fishery will benefit for generations to come.

Working in consultation with industry, we will seize the opportunities emerging from this Comprehensive Economic and Trade Agreement by providing support to processors, both large and small, to help them successfully enter new markets. We will help harvesters pursue innovations and efficiencies with harvesting technology. We will support the development of new value added products that generate employment for plant workers, and we will engage in promotion that differentiates our products throughout Europe.

Mr. Speaker, the terms negotiated by this province through CETA are landmark achievements that are good for the fishery, good for our nation-leading economy, and good for communities in rural Newfoundland and Labrador. They were made possible by the vision and tenacity of our Premier, and have the potential to grow the production value of our fishery well beyond the $1 billion mark it has already achieved.

Thank you Mr. Speaker.

2013 11 07                                     1:40 p.m.