faroe export eu increased

Faroe Islanders are expecting increased opportunities for fish exports to the EU after the signing of a new memorandum of understanding’. Photo: Bjarni Árting Rubeksen

In the Faroe Islands, there is renewed hope for better export opportunities to the EU after the President of the European Commission, Ursula von der Leyen, visited the North Atlantic on Thursday 14 March 2024.

During her visit, she signed a “Memorandum of Understanding on Enhanced Cooperation” with the Prime Minister of the Faroe Islands, Aksel V. Johannesen. The document aims to establish a framework for the partnership, focusing on areas such as green transition, energy, climate change, digitalisation and the Arctic, in addition to existing areas of cooperation on trade, fisheries and research. And although the agreement contains very little concrete information about cooperation, there are hopes in the Faroe Islands for better access to the EU market for Faroese fish products.

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“The Faroe Islands already have a trade agreement with the EU. But when it comes to processed fish products produced in the Faroe Islands, there are currently a number of obstacles to market access. With the agreement we have now signed, we have taken the first step towards, among other things, better access to the EU market for Faroese fish products,” said Aksel V. Johannesen, the Faroe Islands’ social democratic prime minister, to KvF media.

He emphasised, however, that it will take time to implement the improved trade terms with the EU. However, he is very optimistic after the meeting with Ursula von der Leyen, who herself expressed a desire to implement changes as quickly as possible.

The MoU signing took place in the Prime Minister’s Office in Tórshavn, during what was the first ever visit to the Faroe Islands by a  European Commission President.

After her visit to the Faroe Islands, Ursula von der Leyen continued on to Greenland.

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