Thank you, Madam Chair.

The Prince Edward Island Fishermen's Association would like to thank the Standing Committee on International Trade for the opportunity to present this afternoon.

The PEIFA represents over 1,260 captains who are independent owner-operators on Prince Edward Island. Many of our members also employ two to three crew members, which underscores how important the fishery is to the island economy, with a small population of 150,000 people.

Lobster is a significant contributor to our fishery, with recent estimates conservatively generating $260 million from the harvesting sector alone. Secondary species such as halibut and bluefin tuna are also financial contributors; however, other species that we fish, like herring and mackerel, are under significant catch restrictions or closures.

These factors underscore how our export markets are critical to maximizing financial returns for the species we do fish. Changing water temperatures, intensifying storms and lack of ice cover are all things that are changing our ocean landscape.

In addition to the live market, our members supply plants in eastern Canada and the United States with significant amounts of lobster. Our catches, in important species such as lobster, far exceed what our local and regional populations can consume. Therefore, it is vitally important that the critical trade channels to the United States and Europe be kept accessible. In addition, a significant portion of lobster harvested around Prince Edward Island goes to the processing sector in Prince Edward Island, New Brunswick and the United States. These are historic and symbiotic trade relationships that have existed for many decades.

We understand that trade is back and forth and that trade ebbs and tides between trading partners. I will defer to the other committee witnesses to provide specific examples or to identify areas of concern. My intent today is to educate committee members on how important international trade is to our island fishery.

Provincial data from 2019 listed exports of $238 million, of which 72% was exported to the United States. Europe is also a traditional and strong market. These numbers translate to approximately 9.2% of Canadian lobster exports. It is important for keeping coastal communities vibrant, for supporting local business, and more importantly, for contributing to the food security and food sovereignty of this nation.

As Canadians, we do not think in terms of our Canadian seafood as a critical resource. As global dynamics change, we need to ensure that ownership of our resources stays Canadian and that trade is carried out with global security partners. A coastal network of independent Canadian owner-operators ensures that the harvesting and processing benefits stay in local communities.

We are not naive to think that trade is precise and exact. We know that the politics of disputes can creep into unrelated industries; therefore—