Canada: Seafood exports grew in 2013

The Minister of Fisheries and Aquaculture, Keith Hutchings, pointed out: “Our province continued its reputation as a strong competitor in global seafood markets in 2013, as Newfoundland and Labrador seafood was exported to more than 40 countries. The total value of provincial seafood production in 2013 increased by eight per cent from the previous year to approximately $1.1 billion, and the stage is set to build on that success thanks to gains achieved through CETA negotiations, as well as this government’s ongoing investments in research and development, science, marketing, and quality control.”

The government’s press release also revealed that the increase in production value was due in part to the record production value of the aquaculture industry, which generated USD 197 million last year. It was shown that salmon production significantly rose, and shellfish production remained near the record level achieved the previous year.

Besides, it was stressed that landings in the commercial wild fishery increased by 4.9 per cent in 2013 when compared to 2012 landings, totalling 268,646 tonnes, which generated a production value of approximately USD 900 million.

Another fact that was noted was that this economic activity generated employment for more than 18,000 workers province-wide.

However, it was remarked that a decline in the average market prices for several species caused the production value of commercial fishing activity to be relatively on par with the previous year.

The document also read that through sound fiscal management and responsible decisions, the Government of Newfoundland and Labrador is strengthening the business environment, encouraging the development of innovative industries, and building a vibrant economy.

FTA with South Korea to benefit NL seafood industry

Newfoundland and Labrador will gain tariff-free access to markets in South Korea with the signing of the Canada-Korea Free Trade Agreement. The agreement will increase trade for fish and seafood products, as well as create new opportunities for the industrial goods and ocean technology sectors in Newfoundland and Labrador.

“The trade agreement will place Newfoundland and Labrador companies on a level playing field with other key competitors who enjoy preferential access to the South Korean market, and opens market access by removing non-tariff barriers that hinder trade. This is a positive agreement for Newfoundland and Labrador, and we are pleased with the agreement the Federal Government has negotiated, which strengthens the environment for business growth in our province,” said Terry French, Minister of Innovation, Business and Rural Development

The Canada-Korea Free Trade Agreement is Canada’s first free trade agreement with Asia. The trade agreement covers trade in goods and services, investment, non-tariff barriers, and other areas of economic activity. Benefits for Newfoundland and Labrador include: duty free access for fish and seafood including molluscs, crab, shrimp and lobster; duty-free access for industrial goods, including maritime radar apparatus and industrial machinery; enhanced market access for many agricultural and agri-food products, including seal meats and food preparations; improved access for professional services; and predictable, non-discriminatory rules for Canadian investors.

The trade agreement will diversify export markets for the fishing industry by eliminating prohibitive tariffs on fish and seafood entering Korea. The Provincial Government has reserved its right to enforce minimum processing requirements for fish and seafood destined for the Korean market.

“Achieving tariff-free access to the Korean seafood market should strengthen the provincial fishing, aquaculture, and sealing sectors in the coming years by creating even more international demand for Newfoundland and Labrador’s world class products," said Keith Hutchings, Minister of Fisheries and Aquaculture.

"It has been important in the past to enforce the province’s minimum processing requirements for Asian markets, and I am pleased to note that our minimum processing requirements will be maintained within the terms of this exciting new trade agreement,” he continued.