Abstract. The European Union member states are dramatically vulnerable in fisheries management and related issues of market and trade policy. The Common Fisheries Policy (CFP) is designed to promote sustainable fishing following principles of both environmental safety and economic stability over the long-term perspective. The CFP was first introduced in 1970 and since that time went though several updates. The most recent reform took effect on January 1st, 2014. This article seeks to analyse new practices and principles of CFP in the framework of multilevel governance concept. The reform has changed the way in which the CFP is managed, giving EU members greater control at national and regional levels which does not affect established principles of supranational governance in fisheries policy. As a major fishing power and the largest single market for fisheries products in the world, the EU also plays an important role in promoting better governance through a number of international organisations. The examples of “herring wars” and “tuna wars” give understanding of CFP decision-making process on international level and dispute settlement procedure through WTO. While analyzing both cases one may conclude that the EU is likely to handle trade conflicts through negotiations and consultations rather than through litigation. However, due to emerging trade conflicts with the third parties and further dispute settlement in the WTO the Eropean Union has to temper its ambitions and adjust its approach and pathway of global governance. Before pretending to being a true international actor the EU would better reconcile all the contradictions between its member states in order to be able to manage emerging crises and fully implement its decisions.