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(1) The Community, on the one hand, and the Government of Denmark and the Home Rule Government of Greenland, on the other, have negotiated a Fisheries Partnership Agreement providing Community fishermen with fishing opportunities in the waters in the exclusive economic zone of Greenland.

(2) As a result of those negotiations, a new Fisheries Partnership Agreement was initialled on 2 June 2006.

(3) The method for allocating the fishing opportunities among the Member States should be defined.

(4) In order to optimise the use of fishing opportunities under this Agreement, the Commission should be allowed to carry out reallocations of non-utilised fishing opportunities from one Member State to another during the annual fishing campaign under certain conditions and criteria and in close cooperation with the Member States concerned. Any such reallocation should not prejudice allocation keys for the distribution of fishing opportunities amongst Member States in accordance with relative stability and should be without prejudice to the competences attributed to the Member States by Article 20(5) of Council Regulation (EC) No 2371/2002 of 20 December 2002 on the conservation and sustainable exploitation of fisheries resources under the Common Fisheries Policy .

(5) It is in the Community's interest to approve that Agreement,