The part of fisheries industry which is the competence of the European Union is called the Common Fisheries Policy (CFP). The objective of the CFP is to ensure the sustainable use of fish resources. The Department of Fisheries and Game of the Ministry of Agriculture and Forestry prepares, as far as Finland is concerned, the matters included in the CFP which are on the agenda of the Agriculture and Fisheries Council.

Legislative power in the EU is exercised by the Council of Ministers and European Parliament. The Agriculture and Fisheries Council meets on the invitation of the Presidency about once a month. In most cases the Council adopts the regulations concerning fisheries by qualified majority in consultation with the European Parliament.

The CFP was created in the 1970s when the United Nations Convention on the Law of the Sea was prepared. Under this Convention the states established fishing or economic zones extending to a distance of 200 nautical miles from their coast. This applied to the EU Member States of that time, which also agreed that, subject to certain conditions, the fishing vessels of the Member States were allowed to enter and fish in each others' zones.

In 1983 and 1994 and, most recently, in the context of the enlargement in 2004 decisions were made on the so-called relative stability, which also sets the foundation for the allocation of fishing quotas between the Member States. Relative stability and free access to the EU zone constitute one of the basic elements of the resource policy under the CFP. The other core elements are the structural and market policy and control system.

The Regulation concerning the CFP was last revised in 2002.