The Minister for Agriculture Simon Coveney has secured a new mandate from EU Fisheries Ministers to enter final negotiations with the European Parliament on a reformed Common Fisheries Policy.
The breakthrough came at 6.15am this morning, after 36 hours of negotiations.
Europe's fisheries policy has been criticised for badly depleted fish stocks, being too expensive and the practice of discards, whereby fish catches excess to quotas are dumped.
In a statement this morning, Agriculture Minister Simon Coveney said the agreement will provide the framework for long term sustainability of fish stocks and the continued economic viability of fishing fleets.
Minister Coveney will present the draft agreement to the leaders of the Fisheries Committee of the European Parliament later.