Guinea Bissau and the European Union sign new fishing agreement

25 May 2007

Brussels, Belgium, 25 May – Guinea Bissau and the European Union (EU) Wednesday in Brussels signed a new, which includes compensation of 7.5 million euros to be handed over to the Bissau government.

The agreement, whose negotiations began in October 2005, allows fishing vessels from Portugal, Spain, Italy and Greece into Guinean territorial waters, will come into force on June 16, and implies a reduction from 70 to 35 licenses for fishing tuna.

The agreement will also allow four fishing vessels for catching fish and cephalopods and shrimp fishing.

The EU will pay Guinea Bissau annual compensation of 7.5 million euros, 35 percent of which will be channelled into Guinea’s fisheries policy, and also includes a specific contribution of 500,000 euros to promote hygiene and control.

In order to increase the EU community’s use of Guinea’s fishing potential, Guinea Bissau will also receive financial compensation of up to 1 million euros.

Under the terms of the agreement, Guinea Bissau undertakes to immediately renounce all private licenses, as well as freights with community operators, thus freezing fishing carried out by fleets from Senegal and China, as part of the respective agreements. (macauhub)