Fisheries Research Fund of the Faroe Islands

Development of the Faroese fishing industry

The Fisheries Research Fund intention is to stimulate both scientific and industrial R&D projects in order to develop the Faroese fishing industry, harvesting, processing and trade, with regards to biologically, economically and socially sustainable use of the ocean's resources.

List of Priorities are:
1. Responsible fisheries (Fiskiskapur við ábyrgd)
2. Experimental fisheries, production and marketing (Royndarveiða, framleiðsla og søla)
3. VAS – Value Added Seafood (Virðisøking av fiski)
4. Economic and social development of the fishing industry (Búskaparlig og samfelagslig menning av fiskivinnuni)
5. Health, safety and environment (Heilsa, trygd og umhvørvi)

The Programme is also financing three small Fisheries R&D Centres for Marine Biotechology, Fish Harvesting Technology, and Fish Processing Technology, respectively. The three R&D centres are hosted by and based upon the existing infrastructure of Faroese government agencies and public institutions. Each centre is backed by a Programme Committee consisting of researchers and industry representatives. The R&D centres are commissioned to build scientific capacity of relevance to the industry, by participating in and organizing R&D projects in cooperation with the industry and research institutes abroad as well as in the Faroe Islands.
Seafood Research is a matter of Ministry of Fisheries and Maritime Affairs. Aquaculture is a matter of Minister of Trade and Industry.

Important basic info about the Faroe Islands
The Faroe Islands are a self-governing nation under the sovereignty of the Kingdom of Denmark. The Faroese Parliament legislates independently of Denmark on all areas of self-government, including the conservation and management of fish and whale stocks within the 200-mile fisheries zone. Unlike Denmark, the Faroe Islands are not a member of the EU, but maintain bilateral trade agreements and bilateral fisheries agreements with the EU and a number of other countries, including our nearest neighbours, Norway, Greenland, Iceland, and Russia.