November 19, 2008
Canada will invest US$3.75 in the seafood sector of Nova Scotia province over three years.
The investment will help the sector diversify markets, develop new products, improve productivity and product quality, as well as meet rising demand for food sustainability.
Funding will be available to seafood processors, harvesters, industry groups and organisations, seafood businesses and co-operatives.
The funding will focus on projects that enhance economic growth and competitiveness while encouraging sector partnerships, said Jamie Muir, acting economic development minister.
Fisheries Minister Ron Chrisholm said Nova Scotia is Canada's leading seafood-exporting province. Chrisholm said the seafood sector is important to the province and the government recognises the need for an industry-driven renewal process to meet current challenges.