Iceland wants more out of fisheries collaboration

The Faroese-Icelandic fisheries contract is worth DKK 160 million a year for the Faroes, according to the Icelandic Ministry of Fisheries.

The ministry says that although the contract gives Iceland access to blue whiting in Faroese waters, the contract still favours the Faroes more than Iceland.

A spokesperson from the Icelandic Ministry of Fisheries told news portal fiskifréttir.is that both nations stand to lose out if the contract does not become more balanced.

Negotiations have been going on for some time but no result has been reached, and no new meetings have been scheduled.

Under the current contract, the Faroes are given five percent of the Icelandic capelin quota along with 5,600 tonnes of bottom fish.

This, Icelandic authorities say, is worth much more than the blue whiting quota that Iceland has in Faroese waters.

Translated by prosa.fo