{"id":19643,"date":"2023-12-20T13:55:11","date_gmt":"2023-12-20T13:55:11","guid":{"rendered":"https:\/\/www.selinawamucii.com\/news\/?p=19643"},"modified":"2023-12-20T13:55:11","modified_gmt":"2023-12-20T13:55:11","slug":"what-multi-million-euro-fishing-deal-means-to-the-uk-eu","status":"publish","type":"post","link":"https:\/\/www.selinawamucii.com\/news\/2023\/12\/20\/what-multi-million-euro-fishing-deal-means-to-the-uk-eu\/","title":{"rendered":"What multi-million Euro fishing deal means to the UK & EU"},"content":{"rendered":"\n

Following a post-Brexit trade breakthrough\u00a0of December 8, 2023, the\u00a0UK<\/u><\/a>\u00a0and the European Union (EU) will exploit common fisheries beginning 2024. \u00a0<\/p>\n\n\n\n

The EU will gain access to EUR 1 billion ($1.093 billion) of fish stocks to Britain’s\u00a0\u00a3970 million ($1.22 billion).\u00a0The billion-Euro financial estimate of EU\u2019s stocks comes from the current wholesale prices of fish, with inflation adjustment.\u00a0<\/p>\n\n\n\n

Fishing vessels on both sides of the English channel will now access 468,000 tonnes of ocean fish stocks from 2024. <\/p>\n\n\n\n

Benefits for the UK<\/strong><\/strong><\/h3>\n\n\n\n

Given the deal\u2019s monetary largesse, British negotiators termed their triumph as better than if they were still an EU member. <\/p>\n\n\n\n

One of the deal\u2019s generous points is gifting the UK Total Allowable Catches (TAC) worth 130,000 tonnes.<\/p>\n\n\n\n

 TAC<\/u><\/a> is an EU term meaning the maximum quota of fishing stock allocation per year for each member country. Though the UK is a non-member, it can now access the latest TAC quota for 2024 through the deal. Besides, the European Commission adjusts the quota per country each December depending on the stocks\u2019 estimates. <\/p>\n\n\n\n

The UK will also be able to harvest various fish species including herring, plaice, whiting, haddock and cod. <\/p>\n\n\n\n

The cumulative multi-year available stocks of these species, per EU\u2019s Maximum Sustainable Yield (MSY), is 915,000 tonnes. Thus, even while fishing its yearly maximum of 130,000 tonnes, the UK will be assured of fisheries\u2019 sustainability.<\/p>\n\n\n\n

For British fishermen, accessing EU waters is the end of a long bitter road that began in 2020.  The fishermen had voted for Brexit to access greater fishing freedom but instead they lost income from the EU market.<\/p>\n\n\n\n

Hence the deal is a godsend  for them as it brings an assured source of livelihood in a wider market. <\/p>\n\n\n\n

Benefits for the EU<\/strong><\/strong><\/h3>\n\n\n\n

The EU stands to benefit as much as the UK. According to EU Commissioner for Environment, Virginijus Sinkevi\u00e7ius, the deal gives the bloc access to stocks of vital interest. These include  the Irish Sea fisheries that are renowned for their sharks.<\/p>\n\n\n\n

Of the 85 Total Available Catches slated for 2024, the EU will harvest some 388,000 tonnes<\/u><\/a> of fish. <\/p>\n\n\n\n

Scientific research also shows that 2023 fisheries are sustainable, and hence the European Commission can raise the national quotas.<\/p>\n\n\n\n

This improvement is a far cry from the 2022 fishing season when live ocean catches dropped to 3.4 million tonnes<\/u><\/a>. The meagre harvest ill compared with 2001 when live ocean catches had almost reached 6 million tonnes.  <\/p>\n\n\n\n

Ultimately, the new EU\/UK deal boasts vast fishing grounds from the Mediterranean to the North Sea. <\/p>\n","protected":false},"excerpt":{"rendered":"

Following a post-Brexit trade breakthrough\u00a0of December 8, 2023, the\u00a0UK\u00a0and the European Union (EU) will exploit common fisheries beginning 2024. \u00a0 The EU will gain access to EUR 1 billion ($1.093 billion) of fish stocks to Britain’s\u00a0\u00a3970 million ($1.22 billion).\u00a0The billion-Euro financial estimate of EU\u2019s stocks comes from the current wholesale prices of fish, with inflation…<\/p>\n","protected":false},"author":3,"featured_media":19644,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"yoast_head":"\nWhat multi-million Euro fishing deal means to the UK & EU - Selina Wamucii | Food & Agriculture News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.selinawamucii.com\/news\/2023\/12\/20\/what-multi-million-euro-fishing-deal-means-to-the-uk-eu\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What multi-million Euro fishing deal means to the UK & EU - 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