Moncton, New Brunswick - Canada's fish and seafood sector is the best in the world, and the Government of Canada is helping businesses reach even more customers.
Today, the Minister of Fisheries, the Honourable Joanne Thompson, announced the renewal of the Atlantic Fisheries Fund (AFF) for a further five years. Minister Thompson was joined by the Honourable Kent Smith, Minister of Fisheries and Aquaculture for Nova Scotia; the Honourable Pat Finnigan, Minister of Agriculture, Aquaculture and Fisheries for New Brunswick; the Honourable Ernie Hudson, Minister of Fisheries, Rural Development and Tourism for Prince Edward Island; and the Honourable Loyola O'Driscoll, Minister of Fisheries and Aquaculture for Newfoundland and Labrador.
In partnership with the provinces of Nova Scotia, New Brunswick, Prince Edward Island, and Newfoundland and Labrador, the renewed Fund will make strategic investments of over $300 million in projects in the Atlantic Region, over the next five years. The contribution is split, with the Government of Canada providing 60% of the funding, and the Atlantic provinces 40%.
The renewed AFF will have four pillars. To be eligible, projects must align with one of the following four areas:
- Market Diversification - to support market development activities, including export-focused advertising, market analysis, industry branding, promotion and advertising; and the dissemination of research focused on market access requirements such as regulatory standards - all to make the fish and seafood sector more resilient to global trade disruptions;
- Innovation - to support research and development of new innovations that contribute to the productivity and sustainability of the fish and seafood sector, and to create partnerships and networks that aim to promote and encourage innovations in the sector;
- Infrastructure - to adopt or adapt new technologies, processes, or equipment to improve the productivity and sustainability of the fish and seafood sector;
- Science Partnerships - fisheries and aquaculture industry-based partnerships with academia and institutions to enhance knowledge and understanding of the impacts of changing oceanographic conditions, including adaptability measures, and sustainable harvesting technology.
The Market Diversification pillar is new to AFF and is essential for the continued diversification of the fish and seafood sector beyond traditional markets, and in the face of the changing global economic landscape. Projects eligible under the previous version of AFF will continue to be eligible under the renewed program.
The Atlantic Fisheries Fund will begin accepting applications today.
