A new Common Fisheries Policy (CFP) has been agreed by Council and Parliament and is effective from 1 January 2014. The new CFP seeks to bring fish stocks back to sustainable levels, put an end to wasteful fishing practices, and create new opportunities for jobs and growth in coastal areas.

To achieve this it focuses on banning discards, empowering the sector and decentralising decision making, prioritising aquaculture, supporting small scale fisheries, improving the scientific knowledge on the state of stocks, and taking responsibility in foreign waters through the EU's international agreements.