The New Zealand government will provide NZ$70,000 towards the establishment of New Zealand Aquaculture Limited, a united industry body for the aquaculture sector, Economic Development Minister Trevor Mallard announced in Nelson today.

The formation of New Zealand Aquaculture Limited is regarded as a high priority in the industry’s recently released New Zealand Aquaculture strategy which aims to build a sustainable $1 billion industry by 2025.

"Aquaculture is a vital part of New Zealand’s future and the sector has a lot to contribute to New Zealand as the government works with industry and business on a national and local level to develop an export-led economy which is innovative, high wage, high value," Trevor Mallard said.

"The government has committed to assist the industry in the implementation of its strategy and that's why we are pleased to support the formation of New Zealand Aquaculture Limited. The new organisation will assist the industry to achieve the short term goals and long term vision outlined in the sector strategy so that sustainable aquaculture development can be undertaken in a more cohesive manner."

For some years the industry has sought to find a collective over-arching representation, which has national recognition, avoided duplicated effort and cost, and achieved support and buy-in from industry participants.

The new organisation will be formed by combining the New Zealand Aquaculture Council and the four major species groups: the New Zealand Mussel Industry Council; the New Zealand Salmon Farmers Association; the New Zealand Oyster Farmers Association; and the New Zealand Abalone Farmers Association. A permanent membership system will provide a unified structure representing all commercial aquaculture activity and participants. It will present one voice for aquaculture.

The ongoing operational funding for New Zealand Aquaculture Limited will be sourced from levies under the Commodities Levies Act. The government’s funding support will be used to cover the one-off expenses incurred in establishing the new organisation. The Seafood Industry Council (SeaFIC) has also pledged $50,000 to New Zealand Aquaculture Limited to cover administrative expenses incurred during the initial set-up phase.