Fishing opportunities have been negotiated for the same species as in the previous agreement (cod, redfish, Greenland halibut, northern prawn, capelin and grenadier). Fishing opportunities for mackerel have also been included in the agreement. Any mackerel quota transferred by Greenland in the future will be rely on Greenland signing the Coastal States Sharing Arrangement on the management of mackerel with the EU. All reference prices have been updated in agreement taking current market prices into account. Based on the fishing opportunities and the new pricing scheme, the EU will provide Greenland with an annual financial contribution of EUR 16,500,000, of which EUR 2,900,000 per year, is specifically assigned to promote the development of the fisheries sector in Greenland. If the duration is extended from 4 to 6 years, the total value amounts to EUR 99,000,000. EU ship-owners will, in addition, pay license fees for the fishing opportunities.