EU lawmakers on Friday reached agreement on a multi-annual fisheries management plan for the North Sea hailed by fishermen as recognition of the need for more regionalized management.

The European Parliament, the European Commission and EU Council based Friday’s agreement on an August 2016 proposal.

The agreement sets new ranges for sustainable catch limits for demersal stocks aimed at ensuring stocks are at levels above maximum sustainable yield.

Commissioner Karmenu Vella hailed the agreement as another sign of the EU’s commitment to sustainable fisheries.

“[The deal] signals the EU's determination to protect the future of our fishing industry and coastal communities,” Vella said.