Finance Minister’s Economic Advisory Panel Charts New Course for Aquaculture in Canada

New Report Recommends Sustainable Growth and a New Canadian Aquaculture Act

OTTAWA, ON – The Canadian Aquaculture Industry Alliance today welcomed a new report by Finance Minister Bill Morneau’s Advisory Council on Economic Growth and its recommendation for sustainable aquaculture growth in Canada and a new federal Canadian Aquaculture Act.

The Council recommends a new robust Canadian agri-food strategy including, a “forward-looking Canadian Aquaculture Act combined with an economic-development strategy that reforms ill-adapted traditional fisheries regulations for this emerging subsector to create opportunities for provincial, regional, and aboriginal stakeholders to pursue if they choose.”

The Minister of Finance established the Advisory Council on Economic Growth, Chaired by Dominic Barton, the global managing partner of McKinsey & Company, to develop advice on concrete policy actions to help create strong and sustained long-term economic growth.

In its report the Council recommends Canada increase its global aquaculture market share to 0.6 percent (from 0.2 percent) and exports by almost US $2.6 billion.

“Today the Finance Minister’s Economic Council laid out a responsible and sustainable goal for aquaculture in Canada, and we are committed to working with all stakeholders to seize this unique opportunity,” said CAIA Executive Director Ruth Salmon. “Working together we can continue to produce fresh, healthy, and sustainable farmed seafood, and create new jobs and opportunity across Canada.”

Aquaculture is among the fastest growing food sectors in the world - accounting for nearly 50% of the world’s total fish production. To learn more about seafood farmers, their products and aquaculture in Canada please visit www.aquaculture.ca.

A full copy of the Economic Report is available at: http://www.budget.gc.ca/aceg-ccce/pdf/key-sectors-secteurs-cles-eng.pdf.