The United Kingdom’s fishing industry will have access to over 2,200 metric tons (MT) of fishing opportunities in Faroese waters this year, including key whitefish species, following the recent conclusion of 2024 negotiations between the Faroe Islands and the U.K.
The U.K. and Faroese governments negotiate annually on quota exchanges and broader fisheries management measures under a bilateral framework agreement, and this year’s agreement will see U.K. fishermen benefit from 920 MT of cod and haddock, 600 MT of saithe, as well as redfish, ling, flatfish, and other species.
Both parties will also continue carrying out their commitments to cooperating on monitoring, control, and surveillance measures, as well as on scientific projects.
The U.K. government said the Faroes deal follows the conclusion of its negotiations with the European Union and Norway at the end of last year, which gave the country’s fishing industry access to 420,000 MT of fishing opportunities worth up to GBP 700 million (USD 890.9 million, EUR 819.4 million).
In a statement, U.K. Fisheries Minister Mark Spencer attributed the “strong deals” to the country’s ability to now negotiate as an independent coastal state following its departure from the E.U.
This, he said, will support a profitable and sustainable U.K. fishing industry while safeguarding the marine environment for future generations.
In return for the allocated Faroese fishing opportunities this year, the fisheries negotiations record shows the United Kingdom has transferred some key stocks to the Faroes, including 850 MT of Greenland halibut and 400 MT of haddock.
The delegations also decided the Faroes may request a quota review meeting once it has fished at least 90 percent of the U.K.’s initial transfer of 400 MT. Furthermore, if requested by no later than 15 June 2024, the parties will reconvene to discuss an additional transfer of up to 1,600 MT of haddock in U.K. waters – taking the total transfer up to 2,000 MT.
