“Ten years ago, we only worked with Norwegian companies. Lately we have started working with companies in Europe and Chile, and now we’re going beyond those regions as well,” Torben Foss, who heads PwC’s seafood industry center in Bergen, western Norway, said.
The process has been slow in coming. “The fishing industry has lagged behind the internationalization trend, and that’s partly due to the fact that the quotas were not owned by the vessels,” Foss said.
The arrival of individually transferrable quotas (ITQs), he added, marked the “pivot” in allowing this.
