European Union and the United Kingdom - fisheries consultations: written record 2023

Quota transfer mechanism

a) The Delegations noted the importance of transfers of fishing opportunities between the Parties, and for their respective fleets. Such transfers are necessary for operational needs.

b) The Delegations noted the requirement in Article 498(8) of the TCA to set up a mechanism for voluntary in-year transfers of fishing opportunities between the Parties, to take place each year, and for the SCF to decide on the details of this mechanism.

c) The Delegations noted the conclusions of the SCF of 27 April 2022 setting out principles according to which such a mechanism should operate, and noted that the Parties are still finalising this process under the SCF.

d) Until such mechanism is formally established, the Delegations agreed that the interim mechanism for exchanging 2021 and 2022 quota should be extended to apply to TACs and quotas on jointly managed stocks, set out in section 1 of this Written Record.

e) The Delegations further confirmed their commitment to conclude a final round of transfers for 2022 fishing opportunities by 21 January 2023.

f) The Delegations further agreed to facilitate, within the boundaries of their respective legal frameworks, mutually beneficial swaps between the Parties covering both 2022 and 2023. Such quota transfers should be arranged in such a way that they allow a Party to transfer out quota to the other Party using available quota for 2022, until 21 January 2023, with the understanding that it then receives 2023 quota from that Party to complete the exchange.