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RCG ECON 2023 REPORT: A Comprehensive Insight into Fisheries Economic Issues

We are pleased to announce the release of the annual report of RCG ECON. This document offers an in-depth exploration of economic matters in the fisheries sector and is now available for review and download.

Access the RCG ECON 2023 REPORT Here

A Glimpse into the RCG ECON 2023 Meeting

The Regional Coordination Group on Economic Issues (RCG ECON), established in 2021, plays a pivotal role in assisting the Commission with the implementation of the Data Collection Framework (DCF). The DCF  sets out the basic principles and the general rules on the collection, management, and utilization of data in the fisheries sector, providing support for scientific advice relevant to the Common Fisheries Policy.

The RCG ECON 2023 meeting, the third of its kind, convened from May 5th to May 8th in Brussels. The meeting offered both in-person and online participation options, with 57 experts representing 22 Member States, the Joint Research Centre, DG MARE, and ICES. Of these experts, 29 were present in Brussels, while another 28 joined via the Teams virtual meeting platform.

Key Highlights from the RCG ECON 2023 Meeting

The meeting’s agenda featured updates from several Inter-Sessional Subgroups (ISSGs) that have been active over the past year. These ISSGs covered topics such as Fish Processing, tangible and intangible capital values evaluation, alternative segmentation approaches, and the Regional Work Plan.

  • The Fish Processing ISSG addressed population and variable definitions within this sector, recommending changes for future DCF clarity.
  • The tangible and intangible capital values ISSG examined the use of the PIM method and proposed guidelines for estimating tangible capital values. Further work on intangible asset valuation was proposed.
  • The alternative segmentation approach ISSG made progress on the application of this new approach, narrowing the gap between economic fleet definitions and target fish populations, with some remaining issues identified.
  • The draft Regional Work Plan, based on November 2022 ISSG discussions, was presented, including the definitions of all DCF framework variables and an overview of statistical methods. It will undergo further discussion during the September Decision meeting.

Additionally, the meeting covered developments in social and economic data collection, considering the operationalization of the social aspects of the Common Fisheries Policy (CFP). Discussion focused on extending analyses, data collection, and the development of additional social indicators.

Looking Ahead

The transition towards sustainable energy use and its implications for the fisheries and aquaculture sector were also discussed, with a focus on additional data collection needs.

Furthermore, an ISSG will address the comparison of transversal variables from the FDI and AER data calls, aiming to harmonize data collection and reporting workflows.

The meeting also featured the presentation of the RDBFIS II project, highlighting its potential as a regional data storage and validation tool for the Mediterranean and Black Sea region.

Organizational Aspects and Future Considerations

The meeting included discussions on the facilitation of RCG activities by the RCGs Secretariat and the impact of rising prices on data collection efforts. The RCGs secretariat, developed within the SecWeb project, has proven highly beneficial and will see expanded activities in the coming year. Concerns about inflation rates and increasing prices were raised, prompting recommendations for consideration in the development of new DCF priorities.

Access the Full Report

We invite researchers, experts, and stakeholders to explore the RCG ECON 2023 REPORT, which offers comprehensive insights into the economic dimensions of fisheries and aquaculture data collection. The report is now accessible in the RCG ECON Latest Reports section and can also be found here.