The Association of Seafood Processors (ASP) says the memorandum of understanding report released last week on Newfoundland’s fishing industry is a “comprehensive analysis of the predicament facing the industry and lays the groundwork for a planned landing, versus a crash, in an industry that all players recognize is in turmoil.”
Derek Butler, executive director of ASP and a member of the MOU steering committee, said today Dr. Tom Clift from Memorial University’s business faculty wrote a comprehensive report that not only detailed the industry’s woes but also laid a path to a rationalized fishery.
“Overcapacity is the long-standing problem in the industry, identified in numerous past reports going back 30 years. This is the first report to say here is a way to help address it,” Butler said.
“Rationalization is inevitable and ASP acknowledges that. The whole goal of the MOU was to address it systematically and ensure a controlled landing.”
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