EU, Norway sign deal seafood duty-free quotas

The European Union (EU) will introduce 12 duty-free import quotas for Norwegian seafood covering a period from May 2021 to April 2028, reported Xinhua.

The EU-Norway deal is part of an agreement for the European Economic Area (EEA) and Norway Grants, the Norwegian government said in a press release on Monday.

Norway, Iceland, Liechtenstein and the EU signed an agreement Thursday on a new funding period for the EEA and Norway Grants. Under the agreement, Norway, Iceland and Liechtenstein are providing 3.268 billion euros to the EU's 15 least prosperous states during the 2021-2028 period, with Norway contributing about 97 percent of the total funding.

"The EU is by far the most important market for Norwegian seafood, and more duty-free quotas provide more export opportunities for Norwegian products, both from fisheries and aquaculture," said Norwegian Fisheries and Ocean Policy Minister Marianne Sivertsen Naess.

The Norwegian government also said that discussions with the EU are ongoing to ensure the industry can take advantage of the duty-free quotas as soon as possible.

The quota volumes from the period that has passed since May 2021 will be distributed over the remaining agreement period, lasting until May 2028. If the quotas are not fully utilized, they can be carried over and used until May 2030, or until a possible new period of duty-free quotas comes into place, the statement said.