Bord Iascaigh Mhara has unveiled a five-year marketing strategy designed to increase home and export sales by 53 per cent to €735 million (€578 million).

The strategy is backed by additional funding of £6 million from the Department of the Marine and Natural Resources. This funding will be increased, if the strategy delivers on its annual targets, the Minister, Mr Fahey, disclosed yesterday. In the current year, an investment of €2.92 million is planned.

The new market-led strategy aims to raise the level of expertise and skills in marketing through industry-wide programmes and mentor assistance; to provide financial assistance for companies and on a sectoral basis; to make support for collective and co-operative marketing efforts a priority; to promote seafood strongly at home and on export markets and to achieve greater supply chain efficiencies through the establishment of a centralised distribution and logistics centre.

"This is the most comprehensive marketing strategy ever developed within the seafood industry," Mr Patrick Ridge, BIM's chairman, said.

"It signals a change in mindset to become a dynamic market-led sector as opposed to the traditional production-oriented focus."