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Nothing fishy about secure aquaculture investment.



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Last updated: 7 October 2003

Nothing fishy about secure aquaculture investment

AFFA03/215M 7 October 2003

Federal Fisheries Minister Senator Ian Macdonald has encouraged primary producers and investors with an interest in aquaculture to tap into a unique electronic report compiled by the Australian Bureau of Agriculture and Resource Economics (ABARE).

ABARE will tomorrow (Wednesday October 8) release the blueprint for those considering entering the fledgling industry, titled Australian Aquaculture: Information Requirements for Investors.

"There's no doubt that sustainable growth in aquaculture can only be encouraged through investment, and this report will show those considering entering the developing industry of the overwhelming benefits," Senator Macdonald said.

"Sadly, in the past, aquaculture has had a stigma attached of being a risky investment, and publications like this are putting the facts of a more professional and secure industry across to investors."

Senator Macdonald said the Australian Government had already started a number of

initiatives to make aquaculture more attractive, such as the implementation of the Aquaculture Industry Action Agenda.

"This agenda aims to establish a framework to help the industry achieve its target of $2.5 billion in sales by 2010 by improving its handling in areas like promotion, research and education," Senator Macdonald said.

Australian Aquaculture: Information Requirements for Investors. has been funded through the Fisheries Resources Research Fund, with information provided by the financial sector and aquaculture experts from state and territory government departments.

Copies of the report are available from tomorrow on the ABARE web site www.abareconomics.com.

Further inquiries:

Senator Macdonald's office: David Crisafulli (02) 6277 7270 or 0400 144 483