New EU fishing agreement nets Sao Tome 3.3 million euros

29 May 2006

Sao Tome, Sao Tome and Principe, 29 May – Sao Tome and Principe will receive 3.32 million euros from the European Union (EU) by 2010 for the new bilateral fishing agreements signed Friday, officials said.

The annual payment of 829,000 euros represents and 11-percent increase in relation to the previous agreement, despite a reduction of around a third in the number of fishing vessels from member-countries given access to Sao Tome’s waters.

Speaking to Sao Tome daily, Tela Non, Sao Tome’s Director of Fisheries, José Dias, said that half the money would go into the state’s coffers while the remainder would be used to develop the archipelago’s fishing sector, particularly traditional fishing methods.

The management and application of the funds from the fishing agreement will be the responsibility of a joint commission, Dias said.

Dias added that the agreement was “very good” for Sao Tome, both financially and for “conserving fishing resources,” thanks to the reduction of the number of European fishing vessels from 63 to 43..

Sao Tome, he added, had also guaranteed support from the EU to boost marine inspection of its waters, namely by installing a monitoring and security system.

Orlando Fachada, the spokesperson of the EU delegation said that in the next few weeks Sao Tome would receive the 637, 000 euros for the last year of the previous fishing agreement. (macauhub)