New Brunswick fishermen are closely watching negotiations between Canada and the European Union as the two try to hammer out a free trade deal.
Canada and the European Union remain locked in trade negotiations, which were originally supposed to conclude last December.
A potential deal could open new markets for the sale of New Brunswick lobster.
The province exports CAD 455 million (USD 452.5 million, EUR 336.5 million) worth of lobster every year, almost all of that is now shipped to the United States.
Fishermen are hoping to crack into the European market, but the European Union charges tariffs on seafood from Canada.
Europe slaps duties from six per cent to 20 per cent on lobster and other seafood coming from Canada.
Robert Rioux, New Brunswick’s deputy minister of agriculture, aquaculture and fisheries, said ditching the tariffs would mean more sales for the industry.
“There’s a lot of people down there, any additional one is welcome news,” he said.
The department’s annual report indicated "seafood from Canada would benefit significantly from improved market access to Europe" and the provincial government gave regular updates to the industry on the trade talks.
Lobster accounted for 49.6 per cent of all seafood exports in 2010. The United States received 85.5 per cent of all seafood exports followed by Japan at 5.7 per cent.
Greater access to the European market could benefit different groups in the fisheries sector.
