On 29 October 2020 the Framework Agreement on Fisheries Between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of the Faroes was signed in Copenhagen by representatives of the UK and Faroes Islands. The Framework Fisheries Agreement recognizes zonal attachment as an important principle of international fisheries management (preamble). Modern principles of international fisheries law shall guide cooperation (Article 1), with annual negotiations on the possible exchanges of quotas or access to waters (Articles 2-3). Parties shall cooperate on fishing vessel licensing (Article 4) and further future arrangements on monitoring, control and enforcement are envisaged (Article 5).
The Framework Fisheries Agreement applies to the EEZ (or variations thereof) and, subject to domestic ratification, will enter into force 1 January 2021 (Article 11). The Agreement applies only to metropolitan UK and only to the Faroes Islands (Article 10).
For more information see the Explanatory Memorandum and UK Press Release.
De Maribus 