BRUSSELS, Belgium, Dec 11, 2025 (BSS/AFP) - The European Union and Britain have reached a deal allowing their fleets to catch fish worth a total of $2.5 billion in 2026, both parties said on Wednesday.

"This agreement ensures EU fleets can fish up to 288,000 tonnes, worth over 1.2 billion euros ($1.4 billion)," the European Commission said in a statement.

For its part, the United Kingdom's food and environment ministry said the deal allowed "access to over 520,000 tonnes of fishing opportunities for 2026, worth an estimated o830 million ($1.1 billion)".

In the commission's eyes the deal, which also involves European Economic Area member Norway, "holds particular significance as the stocks covered comprise the bulk of the EU's shared resources with third countries in the North-East Atlantic".

UK environment minister Angela Eagle said the deal's quotas "will help recover important stocks to healthy and productive levels whilst also giving fishing communities the opportunities they need to thrive".

Fishing ministers from EU states are set to meet Thursday and Friday for negotiations ahead of the setting of next year's fishing quotas, against a backdrop of plummeting fish stocks.

Many Atlantic fish stocks, including of cod, whiting, haddock, sole and plaice, have come under increasing pressure in recent years.