Falkland Islands British military garrison is stationed on the islands, and the Falkland Islands government funds an additional company-sized light infantry Falkland Islands Defence Force. The Falklands claim an exclusive economic zone (EEZ) extending from its coastal baselines, based on the United Nations Convention on the Law of the Sea; this zone overlaps with the EEZ of Argentina. The United Kingdom and Argentina both claim the Falkland Islands. The UK bases its position on its continuous administration of the islands since 1833 and the islanders' "right to self-determination as set out in the UN Charter". Argentina's position is that it acquired the
Economy of the Falkland Islands Economy of the Falkland Islands The economy of the Falkland Islands, which first involved sealing, whaling and provisioning ships, became heavily dependent on sheep farming from the 1870s to 1980. It then diversified and now has income from tourism, commercial fishing, and servicing the fishing industry as well as agriculture. The islands use the Falkland pound, which is backed by sterling. During the 19th century, the supply and maintenance depot for ships at Stanley developed into a port serving ships rounding Cape Horn. There was also trade in cow hides from the wild descendants of cattle introduced by French settlers