The seafood sector looks set to benefit as the UK starts trade talks with Greenland.
Negotiations on a Free Trade Agreement have been formally launched seeking to reduce or remove tariffs on seafood, as well as strengthen other aspects of the relationship between the two countries.
”A deal with Greenland will be a boost for our fish and seafood processing sector – a key industry for Yorkshire and Scotland,” said Anne-Marie Trevelyan, UK Secretary of State for International Trade.
Cooperative trade
She said that a new deal could provide a platform to deepen cooperation on ensuring regional stability in the Arctic as well as collaboration on UK priorities including science, technology, climate change and development.
Talks were launched at a meeting in Copenhagen between British Embassy Copenhagen’s Head of Political, Katherine Dark and the Prime Minister of Greenland, Múte Bourup Egede.
Greenland is a major exporter of seafood to the UK. Cutting tariffs of up to 20% on Greenlandic specialities like prawns and cod fillets would benefit UK supermarkets and catering and hospitality businesses and ultimately consumers, by making room for a reduction in wholesale prices.
The Department for Environment, Food and Rural Affairs (Defra) plans to begin negotiations in parallel to gain fishing opportunities in Greenland’s waters, which could bring significant benefits to the UK’s fishing industry.
Martyn Boyers, CEO of Grimsby Fish Market, welcomed the news.
”The launch of FTA negotiations with Greenland is positive news for Grimsby as much of their product, particularly frozen prawns and white fish, are brought here for packing by local seafood businesses,” he said.
”An agreement would take away any uncertainty of the continuity of supply, benefiting the local processors who repack product from Greenland. The knock-on effect substantiates continued local jobs and employment as well as benefiting local hauliers who provide onward distribution into caterers, restaurants and food service.”
In 2020, total UK trade with Greenland amounted to £10 million and DIT estimates that a further £49 million of coldwater shrimp coming into the UK predominantly originated from Greenland that same year.
