Agreement-in-Principle reached between Canada and France for 3Ps cod fishery 

Since 1994, Canada and France (in respect of Saint Pierre and Miquelon) have co-managed fish stocks, including cod in the 3Ps zone off the south coast of Newfoundland and Labrador. Under the Procès-Verbal Agreement, the two countries meet annually to negotiate management measures, including the total allowable catch (TAC) of shared stocks in the North Atlantic.