The Department of Agriculture's red meat derogation, which limits the importation of beef and lamb, which allows the Department of Agriculture to limit the importation of beef and lamb, is due to end on the 31st December this year.
However, the Department has announced that a number of positive meetings have taken place in recent weeks with a view to extending the derogation.
The Isle of Man’s red meat derogation has been in existence since 1982 and allows the Isle of Man to put limits on the amount of red meat it imports.
Under this agreement with the EU, the Isle of Man is permitted to limit beef and lamb imports meaning that at least 80% of beef and all lamb available in the Isle of Man is produced at home.
Minister Phil Gawne MHK (pictured) believes that there is reason to be optimistic that an agreement on a further interim extension may be found: "We were given a very stark message from Brussels five years ago that there would be no further extension of the derogation which has been a very valuable tool in ensuring the survival of our red meat industry.
"However, meetings over the past few weeks give us greater cause for optimism," the Minister explained.
"While there is still much to be done and the vagaries of the UK general election will have a considerable bearing, I believe that we have made quite a bit of progress recently in meetings with DEFRA and EU officials.
"A high level agricultural delegation including myself and President of the Manx National Farmers Union, Howard Quayle met Conservative and Unionist MEP Jim Nicholson, the former Chair of the Europeam Parliament’s Agriculture Committee and received some very good advice on how to move things forward."
Speaking after the meeting Mr Nicholson said, "I welcomed very much the opportunity to meet with representatives from the Isle of Man’s agriculture industry where we discussed the red meat derogation and options for farming on this Island as the date for expiry of the derogation approaches."
Further discussions will take place following the UK election when it will be clearer who will be assisting the Isle of Man in progressing its case in Europe.