Brussels, 20/08/2014 (Agence Europe) - The trade restrictions on the fisheries sector of the Faroe Islands were formally lifted on Wednesday 20 August, as per the settlement of the dispute between the EU and this European third country over fishing for Atlanto-Scandian herring (see EUROPE 11098).
These restrictions, which were set in place in August 2013, concerned a ban on importing herring and mackerel caught by vessels of the Faroe Islands, as well as all fisheries products containing or made from these fish. The EU also restricted the use of European ports by vessels of the Faroe Islands targeting herring and mackerel.
In order to put an end to overfishing, the Faroe Islands finally agreed to a catch limit of 40,000 tonnes of herring for 2014. However, the Commission states in a press release that the lifting of the measures does not represent a tacit agreement by the EU that this upper limit of 40,000 tonnes is the legitimate share of the stock for the Faroe Islands.
Consultations will take place in the autumn between the five jurisdictions in question (Norway, Russia, the Faroe Islands, Iceland and the European Union) on the division of the fishing quotas for Atlanto-Scandian herring.
The Commission describes the formal decision to lift the trade restrictions on the Faroe Islands as a clean slate in the EU's relations with this third country, which is viewed as a potential strategic partner in the fishing sector. The Commissioner for Fisheries, Maria Damanaki, is also hoping to meet Jacob Vestergaard, Minister of Fisheries of the Faroe Islands, in the near future.
The political agreement reached between the EU and the Faroe Islands puts an end to the proceedings brought before the WTO by the latter. (MB)