The NSW Government has released a new a five-year plan – the NSW Aquaculture Strategy - to help support and develop the State’s fast-growing aquaculture industry.

The Minister for Fisheries, Eddie Obeid said the NSW Aquaculture Strategy 2002-2006 aims to encourage investment in the industry, which is currently valued at $44 million a year.

“This is a dynamic regional industry which is growing at a healthy 10 per cent a year due to the Carr Government’s support,” Mr Obeid said.

“Continued growth in our State’s aquaculture means new jobs and businesses in regional areas.”

Mr Obeid said the new Aquaculture Strategy builds on the NSW Government’s support and encouragement for the growth of a sustainable and viable State aquaculture industry.

“Land based aquaculture also reduces the pressure on our wild fish stocks and has tremendous potential for export to worldwide markets.”

“Aquaculture is the fastest growing sector of the world food economy, and now represents around one quarter of the world seafood market.”

Mr Obeid said the Government will work closely with the aquaculture industry and the community to implement the strategy.

“The NSW Government will continue to encourage opportunities for aquaculture investment including more successful investor forums.”

Mr Obeid said NSW Fisheries and other State environmental agencies were working on a whole-of-government approach to promote the aquaculture industry through an Aquaculture Steering Committee.

“NSW Government aquaculture researchers are world leaders in research and technology which is being provided nationally and internationally. Our native fish breeding and culture, scallop farming, prawn farming and Sydney rock oyster breeding are all part of this Government’s plans to support and encourage this industry,” Mr Obeid said.