At present, almost half (48 per cent) of European fish stocks are still missing full data and information.
Therefore, in order to ensure sustainability, more needs to be done to understand data surrounding fish stocks in Europe.
Mr Garat went on to explain how the reformed Common Fisheries Policy is being rolled out and the challenges facing the fishing industry.
Overregulation, NGO campaigns and cheaper low standard imports were identified as the main three threats to European fisheries.
Speaking on cheaper imports from third countries produced at lower standards, Mr Garat explained: "The EU probably has the highest standards in the world – on everything. But these are not for free. They cost a lot of money.
“We should not reduce our standards, but raise the standards of other countries.
“We need a level playing field to be competitive, but it is difficult to put in place.”
In market news, Thailand's Thai Union Frozen Products (TUF) has suspended its public offering for the acquisition of Bumble Bee Seafoods due to an antitrust investigation.
Tri-Union Seafoods LLC, a subsidiary of TUF operating a packaged seafood business in the United States under the brand Chicken of the Sea, has received a subpoena from the US Department of Justice which requires the company to provide relevant information in relation to an antitrust investigation of the packaged seafood industry in the US.
Strengthening its position in aquaculture genetics, TheFishSite parent company Benchmark Holdings PLC, has acquired Norwegian-based aquaculture genetics and research company Akvaforsk Genetics Center AS (AFGC) and American based Spring Genetics for a combined total of NOK 140m (£11 million).
Expanding on Benchmark’s position as the second largest global player in salmon breeding and genetics, the acquisitions represent a strategic move into aquaculture genetics across a wider number of the major farmed species, and into breeding in the fast growing tilapia sector.