The agreement covers three main areas, namely management of resources, aquaculture and trade.
Among other issues, the agreement focuses on sustainable development of fisheries, research exchanges, exchanges of methods of stock management, administration and statistics and a strengthening in teaching of personnel in administration and fishery statistics.
Norway and China pledge to promote exchanges of scientific knowledge, practices and know-how in aquaculture and cooperate in studies aimed at preventing and healing diseases. Also, the parties shall facilitate the establishment of joint ventures and support cooperation of corporate sectors aiming at establishing fish processing plants. Furthermore, the parties shall promote the exchange of expertise and knowledge in administration and statistics for fisheries and aquacultures.
The two countries will facilitate technical and economic cooperation and support development of bilateral trade between the two countries.
The agreement also stipulates the establishment of a Joint Committee, which was subsequently established during State Secretary, Ms. Thorild Widvey’s visit to China Fisheries EXPO 2002 in Qingdao. The committee coordinates activities. The committee consists of representatives of both governments who are assisted by consultants and experts. The committee meets every two years, host duty alternating between the two countries.