Why Are the Separated UK and EU Engaging in a Tug-of-War Over Fishing Rights?

[Image source=AP Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] As the United Kingdom has separated from the European Union (EU), tensions over the waters off the coast of the UK are intensifying. This is because EU member countries, including France, are actively conducting economic activities in these fishing grounds, and the UK is increasingly likely to restrict access to these waters. While EU countries are strongly demanding to maintain the current level of access, there is analysis that the UK may use this as a bargaining chip in exchange for opening the EU's financial services single market.

According to BBC and other sources on the 8th (local time), EU member countries hope that the EU will clarify its position ahead of trade negotiations with the UK to protect their own fisheries. On the 5th, EU ambassadors met in Brussels, Belgium, to discuss a draft for negotiations with the UK. Sources said that coastal countries in the west demanded that the negotiation draft clearly state that the EU should retain access rights to UK waters at the current level.

UK Prime Minister Boris Johnson has stated his intention to secure control over UK waters. On the 5th, the UK quietly increased maritime defense. According to UK media Express and others, the Royal Navy deployed additional patrol vessels to protect fishing grounds and secured 30 additional personnel to monitor ships and protect UK vessels' fishing activities. The media explained, "This move by the UK government came after the EU demanded that access rights to UK fishing grounds be discussed in upcoming trade negotiations."

Currently, the UK and the EU apply the EU's Common Fisheries Policy (CFP) to these fishing grounds. According to the CFP, except for 12 nautical miles from the coast, member countries can freely access the waters. Every December, ministers from EU member countries often engage in disputes over the amount of fish that can be caught in each region, BBC reported.

During the one-year transition period after Brexit (the UK's withdrawal from the EU), the CFP remains in effect. However, after this period ends, as an independent coastal state, the UK will have exclusive rights over its Exclusive Economic Zone (EEZ), which extends 200 nautical miles from the coast. The UK government hopes to use this as another bargaining chip in trade negotiations, claiming to protect its fisheries while negotiating with the EU annually.

[Image source=AP Yonhap News]

The reason for the tense standoff between the UK and the EU is that the UK fishing grounds are rich in fish species and quantity, and many EU member countries such as France, the Netherlands, Belgium, Denmark, and Ireland extensively use these waters. According to the BBC, 43% of the fish caught in UK waters are caught by EU member country vessels, which is more than the 32% caught by UK vessels. The rest is caught by Norway (21%) and other countries (4%). For EU member countries, the UK fishing grounds are an indispensable resource.

For the UK, it is difficult to ignore its own fishing industry workers. Most of the fish caught by UK vessels are exported to the EU. In 2018, the UK exported 448,000 tons of fish, three-quarters of which went to EU countries. If tariffs and other barriers increase, fishing industry workers will inevitably suffer a direct blow. The UK government argues that market access should be treated separately from access to fishing grounds, but the EU responds that access to the single market cannot be granted without negotiations on fisheries.

However, according to the BBC, fisheries account for only 0.1% of the UK economy. Some analysts interpret this as the UK attempting to use fisheries as a bargaining chip in trade negotiations with the EU, exchanging it for advantages in the financial services sector, where the UK has strengths. The UK would give up access to its fishing grounds that EU member countries need in exchange for opening the EU's financial services market. According to the UK Office for National Statistics (ONS), the size of the UK's financial services sector in 2018 was ?132 billion (about 203.7 trillion KRW), which is 170 times larger than fisheries (?784 million).

Seemingly aware of this, Bruno Le Maire, France's Minister of Finance, said on the 6th that the EU should not trade fishing rights in UK waters for access to the EU's financial market. He emphasized, "We must clearly establish an agreement on fisheries, but it is not a big issue," and stressed that if the UK wants to enter the EU financial market, it must comply with EU regulations.

This content was produced with the assistance of AI translation services.