Welcome to FIS   Sponsored By
United States
Subscribe to FIS | Register with FIS | Advertise with FIS | Newsletter | About FIS | Contact us
   


Nova Scotia lobster. (Photo: Dept. of Fisheries & Aquaculture Nova Scotia)

Nova Scotia fisheries authorities understate impact from US withdrawal from NAFTA

Click on the flag for more information about Canada CANADA
Thursday, December 07, 2017, 23:30 (GMT + 9)

Nova Scotia officials ensure that the booming seafood demand from Asia and Europe would offset any losses that the withdrawal of the United States from the North American Free Trade Agreement (NAFTA) would cause on this Canadian province's seafood industry.

This optimistic view was expressed by Nova Scotia Fisheries and Aquaculture deputy minister Frank Dunn, saying the value of the province's seafood exports has doubled in the past five years to CAD 1.8 million (USD 1,400 million) in 2016, CBC News informed.

"Within the country, we are the seafood powerhouse," said Scott Hosking, the director of business development with the Fisheries Department.

Nevertheless, a recent report by the Bank of Montreal (BMO) called "The Day After NAFTA" predicts World Trade Organization tariffs would prevail.

Trade data provided to CBC News by the Nova Scotia Finance Department show some processed seafood at the US border could be hit with WTO tariffs from four to 10 per cent.

But that does not affect Department Officials’ optimistic view, stating that while a cheaper Canadian dollar helped boost exports, increased sales and volumes largely accounted for the rise and predicted annual exports will eventually reach CAD 3 billion (USD 2.3 billion) in value.

In their view, Nova Scotia's seafood industry is becoming less dependent on the US, whose sales still account for 52 per cent of exports, representing a decline from over 80 per cent in the early 2000s.

In this regard, Scott Hosking, Nova Scotia Department of Fisheries and Aquaculture's director of business development, points out that there are other opportunities, pointing to the Comprehensive Economic and Trade Agreement with Europe, which went into effect in late September. The deal removes 96 per cent of tariff barriers on Canadian seafood.

On the other hand, Fisheries Minister Keith Colwell highlights that China has surpassed Europe as the province's second leading market for seafood, accounting for 14 per cent of export value, with Europe at 11 per cent.

However, those that are not so optimistic about the US withdrawal like Clearwater Seafood CEO Ian Smith highlight there will probably be more losers than winners in Canada if NAFTA is torn up.

According to provincial statistics, in 2016, the US purchased CAD 3.7 billion (USD 2.9 billion) in goods from Nova Scotia, which is 68 per cent of all of Nova Scotia's international goods exports.



[email protected]
www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
Germany
Jun 24, 00:00 (GMT + 9):
IN BRIEF - Sticklebacks infected with parasites influence behavior of healthy fish
United States
Jun 24, 00:00 (GMT + 9):
IN BRIEF - Fish wars loom as climate change pushes lobster, cod, and other species north
United States
Jun 24, 00:00 (GMT + 9):
IN BRIEF - Unlikely advocates: Chefs call on Congress to defend sustainable U.S. fisheries
Iceland
Jun 24, 00:00 (GMT + 9):
IN BRIEF - HB Grandi: Changes in management from 1st of October 2018
Norway
Jun 24, 00:00 (GMT + 9):
IN BRIEF - Marine Harvest : Northern Harvest update: No-Action Letter from the Canadian Competition Bureau
South Korea
Jun 23, 03:00 (GMT + 9):
Bluefin tuna farmed in South Korea to reach the market soon
Singapore
Jun 23, 02:50 (GMT + 9):
Aquatech start-up raises USD 8.2 million for research and development
South Africa
Jun 23, 01:50 (GMT + 9):
Green light given to proposed aquaculture project in Saldanha Bay
India
Jun 23, 01:00 (GMT + 9):
New aquaculture complex will help black tiger shrimp industry to bounce back
United Kingdom
Jun 23, 00:50 (GMT + 9):
Young’s Seafood to increase sales to US after deal with Albertsons
United Kingdom
Jun 22, 23:10 (GMT + 9):
Young's Seafood fails to retain Asda significant contract
European Union
Jun 22, 22:50 (GMT + 9):
Spanish tuna fleet offers EC to use responsible fishing standard
United States
Jun 22, 22:30 (GMT + 9):
Maryland to grant USD 375,000 to promote blue crab industry
France
Jun 22, 21:40 (GMT + 9):
Stef expands logistics operations through Express Maree purchase
Canada
Jun 22, 19:40 (GMT + 9):
IN BRIEF - Marine Harvest | Northern Harvest update: No-Action Letter from the Canadian Competition Bureau



Lenguaje
FEATURED EVENTS
  
TOP STORIES
China's retaliatory tariffs concern Alaska seafood entrepreneurs and legislators
United States Alaska’s seafood industry officials and legislators have expressed concern about the possible negative effects additional export tariffs from China may have on the state’s seafood economy as a retaliation due to the measures set by the American Government.
NASCO adopts measures to protect salmon around the Faroe Islands and off West Greenland
European Union The North Atlantic Salmon Conservation Organisation has adopted new regulatory measures to protect salmon stocks around the Faroe Islands and off West Greenland.
Fishing deal with China would settle maritime dispute
Philippines A joint fishing agreement reportedly being discussed between China and the Philippines is deemed a significant step forward in the relations between the two countries after an old maritime sovereignty dispute.
Canary Islands one-by-one tuna fishermen become part of the IPNLF Member network
United Kingdom LONDON - Organización de Productores de Túnidos y Pesca Fresca (Optuna No 42), the non-profit tuna producer organisation based on the island of Lanzarote, in the Canary Islands has becom...
 
Maruha Nichiro Corporation
Nichirei Corporation -Headquarter-
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation -Wartsila Group Headquarter-
ITOCHU Corporation -Headquarter-
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
Blue Continent Products (Pty) Ltd - (Oceana Group Limited)
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods Inc. -Headquarter-
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO -Food and Agriculture Organization- Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Group Headquarters
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Omega Protein Corporation -Headquarter-
Marona S.A.
Marine Harvest ASA - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
Mitsubishi Corporation Marine Products Depts. D.Team
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation -Headquarter-
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart / Wal-Mart Stores, Inc. (Supermarket) -Headquarter-
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
INVE Group - Head Office
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
Morpol ASA - Group Headquarters
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2018 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER