The fishery that we see in our future looks nothing like the fishery we left in 1992. We left a fishery in 1992 where we were doing primarily cod blocks and second-fiddle products, and we need to become a leader in quality. Quality starts at the side of the vessel.
To go back to Mr. Efford's comments earlier, quality starts with the method of harvest, and gillnets certainly do not meet the method of harvest that we're going to need to compete with the Icelands of the world. If you look at Iceland, primarily right now, you will see that their fishery is a hook-and-line fishery. There are other methods, but it's primarily hook and line. It's interesting, when you look at the Icelandic model, to see that as the use of gillnets goes down, the price of cod goes up. It's very clear to see when you look at Iceland as a country and what they've done with their fishery. Harvesting technology is extremely important.
Then, we need to equip our vessels so they have the proper equipment to bleed and store fish to get it to market and to get it to landing. That's where the province and our role, I guess, really come in. We're responsible for the processing sector. We need to work very closely with DFO in the future when it comes to harvesting, until we get the fish to processing. We will also have to ensure our processors are doing their part to ensure that product quality is maintained.
On the overall question, we see a great promise in our province with regard to northern cod and the opportunities it will provide, but the next years are going to be quite challenging as we transition from primarily a shellfish industry to a cod industry. it's really going to take co-operation in the coming years to get us to where we need to be in the northern cod harvest.