BIM's Seafood Industry Agenda 2000-2006 plan highlights the economic opportunities which a cohesive and innovative investment strategy can deliver for the Irish seafood sector and the communities which it supports. It sets a very ambitious agenda backed up by the necessary supporting analysis. I welcome the fact that the industry itself has given its full backing to this strategic approach as did Deputies in the course of the recent debate in the House on BIM's plan. BIM's programme over the period envisages a total investment of £364 million to which EU and Exchequer funding would contribute £198 million and the industry £166 million. This points to a new level of investment confidence within the sector itself. I am committed to working with the sector and BIM to build on the significant achievements to date and to move ahead with new and innovative strategies based on sustainability, quality, competitiveness as well as responsiveness to consumer needs.
In many key respects we have already begun to break the mould. We are delivering renewal of the whitefish fleet, increased investment in fisheries infrastructure, a new market driven focus on value added and marine research and development and new impetus for growth in aquaculture and fish processing. The challenge now is to secure the necessary investment support to consolidate and move ahead.
I will be working with Government colleagues to secure the necessary investment support in the next round to underpin the development of the Irish seafood industry and of the marine and natural resources sectors generally. BIM's Seafood Industry Agenda is a critical contribution to the current debate on national investment priorities. That debate is taking place in the context of overall stiff competition for resources and many national challenges, but I believe we have a convincing and well backed up case for funding support for the seafood sector.