The Common Fisheries Policy of the European Union and fisheries economics

The revision of the Common Fisheries Policy of the European Union in 2003 was communicated in a ‘Roadmap’, including the opinion of the EU Commission on how to reform the fisheries policy. This paper reviews the Roadmap and confronts the opinion and initiatives proposed by the Commission with the ‘conventional’ bioeconomic theory. The purpose is to assess to what extent the lessons of the theory could be found in the Roadmap. Having in mind the complexity of the EU fisheries, the Roadmap, in particular, focuses on fleet management policy with the aim of reducing overcapacity on a community level. This applies as a supplementary means to the conventional fish stock conservation measures. In conclusion, the EU Commission is aware of the lessons learned from the bioeconomic theory.