As of December 31, 2020, the United Kingdom has officially left the European Union. One of the many areas that were impacted was the fishing industry. The UK and EU were forced to negotiate a new fishing agreement that would govern how much fish could be caught in UK waters.
The negotiations were not without controversy. Both sides had to find common ground on a variety of issues, including access to waters, how much fish could be caught, and how much each side would pay for access to each other`s waters. What finally emerged was a fairly complex agreement that was designed to address the concerns of both sides.
Under the new agreement, EU fishing boats will have access to UK waters for the next five and a half years. However, there will be a gradual reduction in the amount of fish that can be caught in UK waters by EU boats. This reduction will be based on a formula that takes into account historical catches. After the five and a half year transition period, both sides will have to negotiate a new agreement.
The UK has also secured a larger share of the fish that are caught in its waters. The UK`s share has increased from around 50% to 66%. This means that UK boats will have a larger share of the fish that are caught in UK waters.
The EU will also pay the UK for access to its waters. The amount that the EU will pay will be based on the value of the fish that are caught in UK waters. This means that the more fish that are caught in UK waters by EU boats, the more the EU will pay the UK.
Overall, the fishing agreement between the UK and EU is a complex and carefully balanced document. Both sides had to make compromises in order to reach a deal that would benefit them both. The UK has secured a larger share of the fish that are caught in its waters, while the EU has secured continued access to UK waters for the next few years. Only time will tell if this agreement is truly a win-win for both sides.