LTV's Ilze Nagla told Rīta Panorāma that the agreement stipulates cutting cod catch limits by 56% in the western Baltic Sea and by 25% in the eastern part of the sea.
That means that the total allowed catch of cod will be 202 tons in the west and 2,636 tons in the east.
Agriculture Minister Jānis Dūklavs objected to the initial, higher proposals, claiming possible economic consequences.
In 2017 fishermen will be allowed to catch no more than five cod per day, and three per day during some periods of the year.
While the total allowed catch for herring will be increased across the Baltic Sea, with the exception of the Gulf of Rīga where it will be reduced 11% to 16,724 tons.
While the total allowed catch for salmon was increased for 2017, with the exception of the Gulf of Finland.
Sprat quotas were increased 29% across the Baltic Sea with Latvia's total allowed catch reaching 36,107 tons.
The quantities agreed upon take into account the commitment to the objectives of the Common Fisheries Policy, including the achievement of maximum sustainable yield, the principles of the multiannual management plan for the Baltic sea, and scientific advice, in particular advice provided by the International Council for the Exploration of the Sea.
For cod in the Baltic ministers also agreed on a number of additional support measures further aimed to improve the state of the stock.