Waikato regional economic profile - Waikato Regional Council

In the past 30 years aquaculture in New Zealand has grown from small beginnings to asignificant primary industry, sustainably producing three flagship products – GreenshellMussels, King Salmon and Pacific Oysters. Currently estimated to be worth in excessof $380 million per year, New Zealand’s aquaculture sector has a target goal ofreaching $1 billion in sales by 2025. 107The National Institute of Water & Atmospheric Research Ltd (NIWA) notes thatworldwide eel aquaculture is estimated to be worth over US$1 billion, accounting for 65per cent of the total eel production. Asia and Europe are the largest eel markets, but adecline in glass eel stocks in both regions has opened up opportunities for exploitationof species in other areas. NIWA considers that New Zealand has the potential to reaplarge commercial benefits by supplying international eel markets through aquaculture.Eels (tuna) are a traditional food source for Māori, with high cultural and spiritualsignificance. Aquaculture can help replenish wild eel populations, allowing culturalharvesting to continue without the threat of over-exploitation. 108A 2009 report identified freshwater aquaculture opportunities in relation to four speciesthat are of significance to Māori: tuna/eel, koura, whitebait and kanae/grey mullet.While commercial opportunities for farming these species may currently be limited (fora variety of reasons), there are some options for customary stock enhancement. 109On 1 October 2011 legislative reforms came into effect. The reforms made changes tothe Aquaculture Reform (Repeals and Transitional Provisions) Act 2004, the FisheriesAct 1996, the Māori Commercial Aquaculture Claims Settlement Act 2004, and theResource Management Act 1991. The Government considers that these reforms levelthe playing field for aquaculture development and put safeguards in place to bettermanage coastal space and ensure development can only occur within environmentallimits. 110In 2012 the Government adopted the Aquaculture Strategy and Five-year Action Plan.The strategy and action plan establishes a whole-of-government pathway to enable theaquaculture sector to grow.This strategy and action plan aligns with both the aquaculture industry’s strategy andthe Ministry for Primary Industries’ 2030 Strategy, setting out how the Government cansupport the growth ambitions established by the sector. It also complements existingGovernment environmental and economic initiatives and upholds the Crown’sobligations under the Treaty of Waitangi.Through the strategy and action plan the government will support industry in achievingits goals while acting in the public interest to ensure an appropriate balance ofeconomic, social, cultural and ecological values. 111Aquaculture is also considered to be an important sector in the neighbouring Bay ofPlenty region. It is a key focus area within the Innovative and Productive IndustrySectors theme in the Bay of Connections Regional Economic Development Strategy(Bay of Plenty). The Strategy and Action Plan for Aquaculture was one of the firstsector strategies to be developed under the Bay of Connections framework.3.3.8 TourismBecause of its relatively low labour productivity (discussed in chapter 9.4.2) andcontribution to exports 112 , tourism is likely to have relatively modest growth potential. It107Aquaculture New Zealand (2011) Industry.108National Institute of Water and Atmospheric Research Ltd (2011) Eel.109Te Wai Māori (2009, p. 3).110New Zealand Government (2011a) Aquaculture enters new era.111New Zealand Government (2011b) Aquaculture Strategy.112It is recognised that spending by international visitors represents export earnings, but it is not clear how large thisgroup is vis a vis domestic visitors. Further research into this area would provide useful data about the relativeimportance of this sector to the Waikato regional economy.Doc # 2069885 Page 41