Proposals to restructure the Irish fishing industry to ensure its future survival are to be published within a few weeks.
Minister for the Marine John Browne told RTÉ News that the major fishing organisations are engaged in detailed discussions with the Department of the Marine about the proposals.
He described the proposals as 'well-advanced' and said he was confident there would be a good future for the industry.
The Minister was commenting on a Canadian report, which has predicted that all fish stocks will collapse by 2048.
Writing in the American journal, Science, the researchers say they have carried out the most comprehensive analysis yet of the human impact on declining marine life.
They have also warned of serious knock-on consequences for water quality and shoreline environments.
They have called for steps to be taken to safeguard stocks by protecting some sea areas.
The group says that stocks have collapsed in almost one third of the world's fisheries and the rate of decline is accelerating.
The head of the study Canadian Professor, Boris Worm, said despite the gloomy prediction it is not too late to reverse the trend.
The Marine Institute has been instructed to analyse the Canadian report.