New incentives encouraging Russian companies to invest in onshore processing facilities, new vessels and other equipment to increase value-added production will be a boon for fishing and processing giant Norebo's already-established presence on the EU fish fillet market, according to the company's top executive in Europe.

Norebo Europe Managing Director Sturlaugur Haraldsson​ told IntraFish his company is particularly well-positioned for the shift, given that it has been working for years on increasing the value of its cod.

"Norebo is ahead of many of the producers in Russia because we started this journey 11 years ago, gradually increasing our production of fillets," said Haraldsson.