The EU and Greenland have signed a new sustainable fisheries partnership agreement and protocol that will strengthen their bond over the next four years with the possibility of a two year extension.
The deal was reached in January and formally signed on 22 April. It will allow the EU fleet to continue fishing in Greenland waters for a duration of four to six years while continuing to contribute to the development of the fisheries sector in Greenland.
The agreement covers the same species as are in the current protocol, namely cod, redfish, Greenland halibut, northern prawn, capelin and grenadier. Fishing opportunities for mackerel have also been included in the agreement at a 0 TAC level and any quota of mackerel transferred by Greenland in the future will be dependent on the participation of Greenland as a signatory to the coastal states sharing arrangement on the management of mackerel.
Reference prices have been updated taking into account current market prices and the total annual financial contribution to Greenland will be €21.6m with €2.9m earmarked for the development of the fisheries sector in the country. For the whole duration of the protocol, the total estimated value amounts to €130m.
