Changes in aquaculture law needed to help industry in New Zealand

Aquaculture New Zealand (NZ) has said that without major legislative change, New Zealand's fledgling aquaculture industry will stagnate and have little chance of achieving its NZ$1 billion (US$665.7 million) revenue target by 2025.

Moves to reform New Zealand's aquaculture industry swiftly through the new Aquaculture Technical Advisory Group (TAG) have been welcomed by the industry.

According to reports, the NZ$400 million aquaculture industry is static with little room to move as laid down in 2004 with the aquaculture law reform.

Reports state that Aquaculture NZ chairman Peter Vitasovich does not believe the reform provides a workable environment for the industry, but the short time frame allocated to the TAG is pleasing, because it prevents any further delays to addressing legislation holding back further development of the industry.

The Aquaculture Legislation Amendment Bill introduced by the previous government is continuing to address some technical problems with the current industry regime, but it does not address the big issues that remain as barriers, the report said.

There are concerns that an industry goal of more than doubling its revenue by 2025 to NZ$1 billion is unachievable unless changes to the legislation are made.

US$1 = NZ$1.502 (Aug 4)