The export market right now is much larger than the domestic market. We really haven't paid a whole lot of attention to the domestic market over the past number of years. We've started to focus on it now as a possible opportunity.
We've been led to that opportunity by fishermen who say, “Listen, if I'm selling fish that's going to Ontario or Europe, why can't we sell it in Yellowknife?” This government has supported that fisherman and a number of others as well.
Again, it comes down to capacity and it's the labour and the cost of fishing. You raised the point about the cost of fuel. Fuel exploded between 2003 and 2010. The cost of operating a fishing boat went up by almost 300%. Meanwhile the price declined. It went in the other direction. While we were dependent on the export market, the export market simply wasn't keeping up with the cost. I think we all assumed it would, but it didn't.
This is where the domestic market comes into play as an important market, especially if we sell a value-added product. People in the Northwest Territories are no different from people in southern Canada. We like convenience in terms of our foods. We like going into the grocery store and picking up a fillet of fish and taking it home, as opposed to a whole fish and doing all the work ourselves at home.
People here in the north value their products. I believe there's a high level of confidence in our fishery and a high level of confidence in the products that are being produced by our fishermen.
It's that simple means of organization, and I suppose capital investment is the big thing at play. There are so many small pieces and parts to put into play. It's a matter of making sure that all the ducks are lined up in the right order. Then I believe you'll have a well-served domestic market as well as a well-served export market.
But if we don't have capital investment, it's not going to be great.