My strategic objective is to ensure a sustainable and vibrant future for the Irish seafood industry and the communities it supports, backed up by the necessary level of funding to underpin investment post 2000.
I am pleased to have the full backing and commitment of BIM in the task of delivering on that strategic objective for the sector. The BIM plan for 2000-2006 is an invaluable input into the challenging task ahead to deliver a sustainable future for, and with, the industry and coastal communities.
The fleet, processing, aquaculture and ancillary service sectors already support jobs for 16,000 people in areas where there are few alternative employment opportunities. The sector is worth £300 million per annum to the national economy and seafood exports are now valued at some £250 million. The achievements to date underline the significant potential for further growth in this indigenous natural resource based sector which will deliver jobs and growth, particularly in peripheral coastal communities.
Our existing development strategies have been focused on the modernisation and renewal of the fleet, the continued growth of the aquaculture sector, expansion in onshore processing and the development of fishery harbours infrastructure and aquaculture landing places. My own commitment, and that of the Government, to the development of the sector is clearly underlined in delivery last year of funding support and tax incentives for the whitefish fleet renewal programme supporting up to £60 million investment in the fleet. I also achieved, in the context of the budget for 1999, a major increase in Exchequer funding for fishery harbours and aquaculture infrastructure development. There is still much to be done and the immediate challenge is to position the sector firmly to deliver on its recognised economic potential and development needs into the next millennium, with EU Structural Funds support.