€4bn European Fisheries Fund agreed by EU ministers

A new €4bn European Fisheries Fund was agreed today at a meeting of Agriculture and Fisheries Ministers in Luxembourg.

Negotiations over the package have been going on for over two years and today's agreement comes on foot of intense discussions after failure to agree at May's meeting of the council.

It contains programmes for coastal communities, for projects like eco-tourism, regeneration of coastal areas and measures to protect and enhance natural heritage.

There are supports to encourage young fishermen into the industry, and an emphasis on promoting stock conservation and protection of vulnerable fish stocks.

Four priorities are identified - adapting the community fishing fleet, funding aquaculture and the marketing of fisheries products, investments in ports and promoting and developing new markets, and sustainable development of coastal areas.

Marine Minister John Browne said today's package, which covers the period from 2007 to 2013would provides a sound basis for a sustainable and viable industry into the future.