Iceland and Faroes extend key fishing deal – Fishupdate.com

Iceland and Faroes extend key fishing deal Published:  22 January, 2009

ICELAND and the Faroe Islands, two of the most important fish suppliers to the UK, have agreed to extend a key fishing agreement signed between the two countries last year.

The respective fisheries ministers Einar K. Gudfinsson for Iceland and Jacob Vestergaard for the Faroes met in Reykjavik a few days ago to ratify the extension. The deal includes several species of fish, but the tonnages involved are not thought to be huge.

Normally, Iceland does not allow foreign trawlers to operate in its waters, but both nations will be allowed to catch Blue Whiting and Norwegian-Icelandic herring in each other´s grounds. Faroese vessels have been given permission to take 5,600 tons of groundfish in Icelandic waters, of which cod is maximum 1,200 tons.

The Faroese fleet will be allowed to catch up to 30,000 tonnes of capelin in Iceland waters and both nations are permitted to fish for blue whiting in each others grounds, but Iceland is being restricted to operating a maximum of 12 vessels in Faroese waters.

The move is part of a closer bond of co-operation on fisheries and other trade issues between the two countries who have forged new maritime boundaries in areas where their 200 mile limits overlap, effectively ending a limits disagreement stretching back for several years. Further co-operation on fisheries issues is expected between the countries. Three months ago the Faroese agreed to lend Iceland 300 million Danish kroner (£32-million) to help the country through its financial crisis.

www.fishupdate.com is published by Special Publications. Special Publications also publish Fish Farmer, the Fish Industry Yearbook, the Scottish Seafood Processors Federation Diary, the Fish Farmer Handbook and a range of wallplanners.