A Nova Scotia seafood company says a multi-country trade deal is a godsend for the industry.
The Trans-Pacific Partnership is a massive deal involving 12 countries, including Canada, and is expected to have a direct impact on the province's agricultural and seafood sectors.
“The TPP represents a good opportunity, for not just our company, but the seafood sector overall. It represents an opportunity to grow markets, to expand into growing economies in the Pacific,” says Adam Mugridge, a fishing industry biologist with Louisbourg Seafoods.
Sydney and Area Chamber of Commerce president Adrain White says the new agreement works well for the region.
“To have markets opened up to us that weren't opened up to us before is all positive news,” says White. “Hopefully it will spur some new companies and industries that bigger markets are now open to our businesses.”
While the deal should bring some commercial success, it also brings with it some concern for overfishing and depleting stocks.
“Our company takes pride in balancing the sustainability of all of our resources with the market opportunities,” says Mugridge. “Certainly, Asia represents an opportunity to sell more of our product and fetch a higher price.”
Louisbourg Seafoods hope to increase international sales thanks to the new trade agreement; however the deal still needs to be ratified by each country.
“We have to compete in the international world and global economy to preserve our jobs,” says White.
With files from CTV Atlantic's Kyle Moore
