faroe iceland fisheries 2024

The Faroe Islands and Iceland met for negotiations at an official level for the first time and signed a fisheries agreement for 2024

The Faroe Islands and Iceland met for negotiations on a mutual fishing agreement for 2024 in Reykjavik on November 27 and 28, 2023.

This marked the first meeting of its kind at the official level.

Fishing negotiations between the Faroe Islands and Iceland have traditionally taken place at a political level. However, in 2022, the Faroe Islands and Iceland signed a framework agreement that establishes fishing cooperation between the two nations on a new basis. With the new agreement, which came into effect in 2023, negotiations between the countries are now conducted at the official level.

Since this was the first meeting of its kind where a new agreement text was also supposed to be formulated, the negotiations did not reach a conclusion in Reykjavik. Communication has continued between the parties, and an agreement for 2024 was reached during a valid meeting on 20 December 2023.

Despite adjustments in the negotiation format and the wording of the agreement text, the 2024 agreement contains the same terms as the agreement for 2023.

Faroese vessels can, as before, fish demersal and pelagic fish in Icelandic waters, and Icelandic vessels can fish pelagic fish in Faroese waters.

The agreement stipulates that the Faroese demersal fish quota remains at 5,600 tonnes, including up to 2,400 tonnes of cod and up to 400 tonnes of haddock. The Faroese blue whiting quota continues to be 5% of the total quota set by Iceland, Greenland, and Norway, but no more than 30,000 tonnes.

Access to fish their quotas of blue whiting and North Atlantic herring with each other continues as in previous years. This means that the countries can fish these quotas entirely within each other’s territories. Iceland receives a direct quota of 1,300 tonnes of mackerel from the Faroe Islands, which remains unchanged in recent years.

 

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