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Federal, Atlantic Canadian Fisheries Ministers in N.B. for Announcement
The five-year renewal will fund research, infrastructure and marketing as Ottawa and Atlantic provinces aim to strengthen the seafood sector.
On Thursday, Federal Fisheries Minister Joanne Thompson announced a five-year renewal of the Atlantic Fisheries Fund, providing $300 million for industry research and infrastructure.
Ottawa will provide 60 per cent of the cash, while Nova Scotia, New Brunswick, P.E.I. and Newfoundland and Labrador will contribute the rest to support the region's fish and seafood sector.
The new money will support market research and industry branding, which the Fisheries Department says will make the sector more resilient to global trade disruptions. "When Atlantic seafood sells to more of the world, we build Canada strong," Thompson said.
Since its 2017 introduction, the Atlantic Fisheries Fund has provided more than $370 million for more than 1,300 projects, bolstering regional fishing and aquaculture efforts.
Thompson was joined at the Greater Moncton Romeo LeBlanc International Airport in Moncton by provincial counterparts, including Newfoundland and Labrador's Minister of Fisheries and Aquaculture Loyola O'Driscoll, to mark the renewal.