Aquaculture is an EMFF priority with EUR 1.2 billion (USD 1.6 billion) worth of support allocated to it. To address challenges of overfishing, reliance on imports for fish, low profits and dependence on subsidies in many fleet segments, and complexity of governance, the reform of the EU Common Fisheries Policy (CFP) was proposed. The new CFP was agreed by the Council and Parliament and entered into force in 1 January 2014. It advocates for a progressive implementation of an ecosystem-based approach to fisheries management. It aims at efficient fishing activities within an economically viable and competitive fisheries industry, while minimising the impact of fishing on marine ecosystems. Moreover, it seeks to fulfil the goal of Good Environmental Status (GES) in European seas by 2020 in line with the Marine Strategy Framework Directive (MSFD).