The agreement, negotiated over two days, covers sea areas in the Atlantic, North Sea, Mediterranean and Black Sea. It includes cod protection and a 44 percent reduction in quotas in the southernmost parts of the North Sea.
Sole quotas are also being reduced by 44 percent in the Skagerrak, Kattegat and in the westernmost parts of the Baltic Sea.
At the same time, the lobster quota in the Bay of Biscay increases by 54 percent.
Denmark's Fisheries Minister Jacob Jensen, who has been at the forefront of the negotiations when Denmark holds the presidency of the EU, says that it was not easy to reach an agreement.
"I believe we have reached a compromise that ensures the balance between biological advice and at the same time provides the best possible framework for sustainable fishing in the future," he says in a press release.
