Michael Creed (Cork North West, Fine Gael) | Oireachtas source

I thank the Deputies for their questions. The Government is committed to the blue economy. It is interesting to note that the growth in the blue economy is faster than the growth in the mainstream economy. I had the privilege yesterday to attend a global seafood fare in Brussels and met representative of the fishing industry, 23 different companies from all around the coast stretching from Malin Head to Mizen Head and all points in between. They are capitalising on that growth. I appreciate the sector the Deputies mentioned is critical with respect to the raw material it is bringing to the market. We stand ready and waiting, but this is an issue that the sector needs to activate. There is a provision under the European Maritime and Fisheries Fund, EMFF, to establish a mutual fund. We have recently very successfully established the Regional Inshore Fisheries Forums and the national umbrella body, the National Inshore Fisheries Forum, as well as the long established producer organisations, POs, such as the Killybegs Fishermen's Organisation and the Irish South & West Fish Producers Organisation, with which the Members will be familiar.

They need to come together to establish the mutual fund. We will then be in a position to respond to losses. I acknowledge that there have been losses to the sector, but this is the vehicle that needs to be activated.

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