The Ambassador of Iceland spoke about the role of fishing in the country's economy

Monday, 23 October 2017, 18:14
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Sigridur Berglind Asghirsdottir at the International Fishermen's Congress spoke about the Icelandic economy, the extent to which fishing is a big part of it, and how the country cope with the crisis.

"Once in the summer, we all disappeared from the herring. It has become a real catastrophe for our economy. We had to find ways of responsible fishing. 35 years ago we had a system of transferable quotas, each year we determine their volume, following the recommendations of the scientists. During this time, we reduced by 50-60% of the catch of cod - our main production site, but the cost of the final product per kilogram of fish has increased fourfold. How is it possible? We realized that we needed to develop technologies in order to maximize profits, "said Berglind Asheirsdottir.

Iceland's Ocean Cluster, the equivalent of a "silicone valley" for fishermen, operates successfully in Reykjavik. There, 70 Icelandic companies are developing and producing equipment for the fishing industry, innovative technologies.

"The quality is higher than quantity," the ambassador noted. "Thanks to our technologies, we have learned to use everything from fish: meat, caviar, stuffing, leather, and not only for the food, but also for the medical, cosmetic industry." Berglind Asheirsdottier assured that university studies linking business and education would yield good results.


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