Prospects and Challenges of Icelandic Aquaculture

Gullteig 15:00 – 16:30

Session manager: Gunnar Davíðsson

Session co-ordinator: Kristinn H. Gunnarsson

Based on current plans, aquaculture has the potential to become a new pillar for the Icelandic economy and it is of crucial importance that it develops and grows in a sustainable way.

The Ministry of Food, Agriculture and Fisheries has commissioned a report to assess future opportunities and challenges for Icelandic aquaculture. The report “The state and future of aquaculture in Iceland” analyses the status and prospects of the Icelandic aquaculture. It examines different regulatory frameworks, environmental impact, and value creation potential within the sector.

Recent Auditory report of the Icelandic National Audit Office on Aquaculture on law enforcement, and administrative practices and monitoring shows that up-to-date regulatory framework is needed by the authorities as well as from the perspective of the industry itself.

This session focuses on the prospects outlined in the Ministry report and seeks to address both these prospects and future development of the aquaculture industry, as well as the challenges and need for up-to-date regulatory framework that both addresses the sustainability and the future growth potential of the industry.