The aquaculture industry, exports and the economy, will benefit from the passing of a bill on Tuesday that will extend existing coastal permits for marine farms by 20 years, Oceans and Fisheries Minister Shane Jones says.

The Resource Management (Extended Duration of Coastal Permits for Marine Farms) Amendment Bill has passed its third reading in Parliament.

It extends all existing coastal permits for New Zealand’s 1200 marine farms by 20 years, but not beyond 2050.

“I’m committed to ensuring the growing aquaculture industry is not held back by costly and needless red tape," says Jones.

“By passing this law today we’ve given a vital sector the certainty it needs to grow exports and jobs for New Zealanders.”

Without the law change, an estimated $6 million would have been spent in 2024 alone on reconsenting by 200 marine farms.

“That money can now be invested by businesses on useful things like identifying new practices and technology to help lift productivity and sustainability in a sector that is going to help drive export growth in the coming years,” says Jones.

“High-value overseas markets and consumers want more of our great seafood and there is enormous potential to turn our shellfish and salmon farming industries into multibillion-dollar a year export earners.”

Jones says a diverse and strong aquaculture sector will also provide resilience for rural communities.

“A lot of Kiwis in rural areas depend on our primary sector, including fisheries, for work and today we’ve taken action to help protect and grow those jobs.

“We have a great reputation overseas for the sustainability of our seafood products and I know the sector is committed to ensuring that is protected and built on to boost value.”