UK set to begin international seafood trade negotiations

Negotiations are set to begin on a Trade Agreement between the UK and Greenland to reduce or remove tariffs on seafood.

Trade between the two countries was worth £10m in 2020, with coldwater shrimp - worth an estimated £49m - additionally shipped from Greenland to the UK.

The deal will aim to provide a platform to deepen cooperation on ensuring regional stability in the Arctic as well as collaboration on UK priorities including science, technology, climate change and development.

Talks were launched at a meeting in Copenhagen between British Embassy Copenhagen’s Head of Political, Katherine Dark, and the Prime Minister of Greenland, Múte Bourup Egede.

Secretary of State for International Trade Anne-Marie Trevelyan said: “A deal with Greenland will be a boost for our fish and seafood processing sector – a key industry for Yorkshire and Scotland.

“Greenland also has a vital geo-strategic location in the Arctic, and as such, I look forward to bringing our two countries closer together. The trade agreements we have agreed so far with 70 countries will help us level up every part of the UK.”

Greenland is a major exporter of seafood to the UK. Cutting tariffs of up to 20 per cent on Greenlandic specialities like prawns and cod fillets would, according to the government, benefit UK supermarkets and catering and hospitality businesses and ultimately consumers, by making room for a reduction in wholesale prices.

The Department for Environment, Food and Rural Affairs plans to begin negotiations in parallel to gain fishing opportunities in Greenland’s waters, which could bring significant benefits to the UK’s fishing industry.

International Trade Minister Ranil Jayawardena said: “We want to support the many brilliant British businesses that rely on fish from Greenland – and cut costs for the British people. Together, we can bring our two nations closer together than ever before.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →