The Government will put $70,000 into a new industry body for the aquaculture sector, Economic Development Minister Trevor Mallard announced in Nelson today.
New Zealand Aquaculture Ltd would provide a united body and was part of the industry's recently released strategy which aimed to build a sustainable $1 billion industryby 2025.
"The Government has committed to assist the industry in the implementation of its strategy and that's why we are pleased to support the formation of New Zealand Aquaculture Ltd," Mr Mallard said.
"The new organisation will assist the industry to achieve the short term goals and long term vision outlined in the sector strategy so that sustainable aquaculture development can be undertaken in a more cohesive manner."
The new organisation would combine the New Zealand Aquaculture Council and the four major species groups: the New Zealand Mussel Industry Council; the New Zealand Salmon Farmers Association; the New Zealand Oyster Farmers Association; and the New Zealand Abalone Farmers Association.
Ongoing operational funding for the body would come from levies under the Commodities Levies Act.
The Government's funding would be used to cover the one-off expenses incurred in establishing the new organisation.
The Seafood Industry Council (SeaFIC) has also pledged $50,000 to New Zealand Aquaculture to cover administrative expenses incurred during the set-up.
New Zealand Aquaculture Council chairman Callum McCallum welcomed the funding.
"This is tangible recognition of the significant potential for the New Zealand aquaculture industry to be a global supplier of safe, nutritious, sustainable and innovative seafoods into premium markets," he said.
The new organisation would be Nelson-based with a chief executive appointed by the end of the month.
Mr McCallum said the next step was to set out priorities and work plans and build relationships with key stakeholders.
The transition to the united body was expected to be finished by March 2007.
