Baltic Sea fishery currently experiences severe limits of total allowable catches for traditional fish species (cod, herring). At same time, the Round Goby (RG), an invasive fish species to the Baltic Sea, is not subject to these limits. It is by now the predominant fish species in many Baltic coastal areas and is continuously increasing its range and abundance. This has negative effects on epibenthic mollusks and native fish roe; but national initiatives to address this potentially new resource, and hence mitigate its negative impacts, have so far been scarce. Moreover, fishery opportunities are so far limited as with current fishing gear by-catch of native smaller species is a risk. Also, whereas RG is commonly used for human consumption in the Black Sea region, it is neither known to Baltic consumers nor are fish processing lines adapted to its small size. Latvia is currently the only BSR country that has commercial RG fishing for export and a RG management scheme. Through transnational cooperation and competence-building of fishers, gear manufacturers, the industry and relevant regulatory authorities, the Round Goby project will promote RG fishing by exploring management options, develop jointly approved fishing methods and report systems as well as showcase production of high value products for local markets. The project will open new opportunities for Baltic fishermen while reducing the population of an invasive species which threatens the Baltic Sea’s biodiversity.