“Federal Ministry of Agriculture grants 32 million euros to support German fishing companies affected by Brexit”

05/12/2023, 7:14 p.m

Berlin. The Federal Ministry of Agriculture will support German fishing companies with 32 million euros in view of the effects of Brexit. This will make an important contribution to the preservation of the maritime industry in Germany, the ministry announced on Friday.

After affected fishing companies were already able to apply for short-term bridging aid of five million euros in 2021, the new Brexit Adjustment Reserve (BAR) directive approved by the European Commission offers the opportunity to target fishing companies in the phase of restructuring and adapting to the situation after to support Brexit. By 2026, German fishing companies will lose up to 25 percent of their fishing opportunities in the North Sea and North East Atlantic as a result of the trade and cooperation agreement concluded between the European Union and the United Kingdom of Great Britain and Northern Ireland. This not only means reduced catches for the companies concerned, but also has repercussions for fish processing and marketing companies and their employees. Around 35,000 people are employed in Germany in the fisheries sector.

more news from the region