(3 years, 11 months ago)
Commons ChamberThe trade and co-operation agreement establishes tariff-free trade on fisheries exports to the EU and also establishes a five-and-a-half-year multiannual agreement on access and sharing arrangements for quota. Under the agreement, there are year-on-year transfers of fishing opportunities from EU fleets to the UK fleet. Overall, the EU relinquished 25% of the quota it had previously been allowed to catch in UK waters. There are gains, both in the North sea and in the west of Scotland.