[5] However, the FRDC is unique among the corporations in balancing its investment between natural resource management and industry productivity and development.

The FRDC achieves this through coordinating investment by government and industry, and involving stakeholders to set and address RD&E priorities.

The primary revenue for the FRDC comes from the Australian Government and the fishing and aquaculture commercial, recreational and indigenous sectors, based on: The corporation also manages significant contributions by stakeholders in FRDC-funded projects.

The FRDC's strategic investments in RD&E activities benefit the three sectors of fishing: commercial (wild catch and aquaculture), recreational and indigenous customary.

The FRDC has a significant responsibility in ensuring, on behalf of the Australian Government, that research is undertaken to assist in the management of the fisheries and aquaculture resource for ongoing sustainability.

It will focus on ensuring the highest level of probity while providing agility in responding to the ever-changing environment faced by fishing and aquaculture in Australia.

Build capability and capacity V. Provide foundational information and support services Extracted from the FRDC's RD&E plan.

The FRDC aims to spread its investment in R&D across the whole value-chain of fishing and aquaculture, as well as address the needs of both Indigenous and recreational fishers.

The FRDC also works and holds regular planning and prioritisation meetings with the fishing and aquaculture community at sector, jurisdictional, regional and national levels to identify priorities and mechanisms for adoption important to them.

Issues identified from all stakeholders form an integral part of priority setting and go into the FRDC's planning and monitoring framework.

The federal Minister for Agriculture, Drought and Emergency Management, the Hon David Littleproud MP and the Assistant Minister for Forestry and Fisheries, Senator the Hon Jonathon Duniam and the Department of Agriculture, Water and the Environment provide the key priorities that need to be addressed from an Australian government perspective.

It continues to be an active member of these groups driving a number of key areas in particular the CRRDC evaluation program.

The FRDC has assisted in coordinating sponsorship and participation in events such as EvokeAg, ABARES 'Outlook' conference and individual projects on data, safety and community perceptions.

The key research partners are: Australia's marine domain, our Exclusive Economic Zone (EEZ), is one of the largest in the world, covering around 10 million square kilometres.

Australia's commercial fisheries are diverse, operating from estuaries and bays, across the continental shelf to oceanic waters and, in some cases, on to the high seas.

Australian fisheries supply fresh seafood for local and domestic markets, as well as exporting high-value products.

The Gross Value of Production (GVP) for all of Australia's commercial fishing and aquaculture in 2017-18 financial year was over $3 billion a year with wild-capture fisheries contributed around 57 per cent ($1.71 billion) of the total value of Australia's fisheries production and produced more than 166 022 tonnes (t) of seafood, for local, domestic and export markets.

The post-harvest sector includes some businesses that are vertically integrated controlling a product from harvest to delivery to the consumer.

Geographically this spans from northern Australia for species such as Barramundi, Tropical Snappers, Coral Trout, Giant Trevally, Marlin and Tuna, to southern waters for Snapper, King George Whiting, Bream, Flathead and Southern Bluefin Tuna, and inland waters for trout and native fish such as Murray Cod.

People derive reassurance knowing that the environment and the diversity of species are being maintained and that fisheries resources exist.

Aboriginal and Torres Strait Islander people have developed a close, interdependent relationship with the land, water and living resources of Australia through customary fishing practices over tens of thousands of years.