Brussels: The minimum amount proposed for the fisheries sector under the European Union's new budget has been doubled to £4 billion from an initial £2 billion, European Commissioner for Fisheries and Oceans Costas Kadis said on Thursday, stressing that the proposal is now before the European Council and European Parliament.

According to Cyprus News Agency, speaking to journalists after a meeting of the House Committee on Agriculture and Natural Resources, Kadis said the European Commission's proposal did not entail a reduction in fisheries funding but a restructuring of the EU budget aimed at providing greater flexibility in responding to crises and reducing bureaucracy. "The amount was initially £2 billion and, with the proposal of the Cyprus Presidency for the budget, it has doubled to £4 billion," Kadis said.

He mentioned that the proposal was now in the hands of the EU co-legislators, expressing hope that an agreement would soon be reached and the final amounts clarified. Kadis said the new approach would establish a minimum amount for Member States, while countries where fisheries are particularly important would be able to allocate more funding to the sector according to their priorities.

The Commissioner also outlined a possible targeted revision of the Common Fisheries Policy, following an evaluation which identified weaknesses in the existing framework. The aim, he stated, was to ensure that fisheries and aquaculture remain sustainable, competitive, and viable. Priorities include greater support for small-scale fishers, who account for 76% of the EU fishing fleet, as well as the modernisation and energy upgrading of an ageing fleet, much of which is 30 to 40 years old.

Kadis also highlighted challenges arising from the expansion of protected marine areas, saying clearer provisions should be included in maritime spatial planning to take the needs of fishers into account. On aquaculture, he noted the sector was the fastest-growing globally but remained stagnant in the EU, covering only around 10% of EU needs. The Commission, he said, would support proposals for a common aquaculture policy.

He also referred to efforts to combat illegal, unreported, and unregulated fishing, which he estimated accounts for around 20% of global catches, worth more than £10 billion. Kadis presented the EU's broader 'Vision for Fisheries and Aquaculture 2040', as well as a strategy for island and coastal areas focusing on resilience, diversification of the blue economy, and youth skills.

Additionally, he highlighted the EU's maritime security agenda, including action plans for the protection of undersea cables and the use and security of drones, as well as the 'Ocean Eye' initiative for real-time monitoring of marine conditions, including vessel traffic and pollution.