Conference of Peripheral Maritime Regions of Europe (CPMR)
Record profits for EU fleet highlight economic benefits of #SustainableFisheries
The Annual Economic Report on the EU Fishing Fleet of 2018 reports unprecedented economic performance of the EU fishing fleet in 2016, and closely associates this result with the use of sustainable fishing methods. Environment, Maritime Affairs and Fisheries Commissioner Karmenu Vella said: "It is encouraging to see that the positive trend in progress has allowed a rise in profits for the fisheries sector and a greater added value for EU fisheries and coastal communities. This clearly demonstrates that our joint commitment to sustainability is bearing fruit: the ministerial declaration just signed in Malta between the member states EU and third countries in the Mediterranean and Black Sea proposes a 10-year action plan so that small coastal fleets in these countries can also benefit from this positive trend."
The EU fleet recorded record net profits of €1.3 billion in 2016, an increase of 68% over 2015. The forecasts for 2017 and 2018 also look promising. The report states that economic performance stagnates when fleets are dependent on stocks still overfished or overexploited. Fleets that fish in a sustainable way are increasingly numerous and have seen a significant improvement in their profitability. This positive trend in fisheries management brings the EU closer to its goal of sustainable fisheries by 2020. More information is available here.
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