Minister of Fisheries Einar K. Gudfinnsson and representatives of the Icelandic fish industry agreed that the cod farming needs to be developed to cope with the cut in the cod fishing quota. In this regard Iceland asking favour from Norway and it is willing to cooperate with Iceland on developing fish farms.
Gudfinnsson admit that the Icelandic fishing industry has reached a critical moment with regard to cod farming in the country. He added that the companies have to grow and production has to increase considerably. Cod farming has become real industry in Norway and those involved are ready to offer Iceland their guidance and cooperation.
Sigurd O. Handeland, managing director of the spawn farming station Saga Fjörd in west Norway, said that they are willing to share their knowledge with their Icelandic counterpart so that it could help shorten the time until they established spawn farming in Iceland on a large scale. He informed that the initial capitalization for establishing the station had been USD 7.5 million. He also told that it will take minimum three years to strike a satisfactory balance in the production.
Baard Haugse, managing director of Grieg Cod Farming AS, one of the largest companies in Norway, said he would gladly share their knowledge with enthusiastic Icelanders. He said that their seven years of experience gives them a certain advantages over other nations.
