Agreement on fisheries between the European Economic Community, on the one hand, and the Government of Denmark and the local Government of Greenland, on the other.

This Agreement establishes the principles and rules which will govern the fishing activities, in Greenland waters, of vessels flying the flag of a Member State of the Community and registered in that Member State. The catch possibilities under paragraph 1 shall be fixed at a quantity which, taking into account the position regarding stocks, ensures that Community fishing activities in the Greenland fishing zone are carried out in a satisfactory manner. The catch quantities fixed for the Community in the first implementation Protocol and the way in which stocks develop shall constitute a reference basis for fixing future catch possibilities. In return for the catch possibilities utilised under this Agreement, the Community shall pay Greenland financial compensation as fixed in the Protocols referred to in Article 2. (16 articles)