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Guinea-Bissau: compensation for fisheries agreement with the EU


Friday, 18 December 2015

Guinea-Bissau: compensation for fisheries agreement with the EU

The European Union (EU) in November made the second annual payment of 6.2 million euros to Guinea-Bissau for the fisheries agreement renewed in 2014, said Monday in Bissau the EU delegation in Guinea-Bissau. The delegation also announced the approval of a programme to support the fishing sector of Guinea-Bissau amounting to 3 million euros to boost maritime inspection and surveillance, scientific research and staff training, among other objectives. In addition to the financial compensation and support for specific programmes, Guinea-Bissau also benefits from the fees European shipowners have to pay for fishing licenses, whose value depends on the types of ships and fish capturing capacities. The Fisheries Partnership Agreement between the Republic of Guinea-Bissau and the European Union entered into force on 16 June, 2007, and put into practice through multi-year protocols, which define the fishing opportunities for EU vessels and the financial compensation paid by the European Union, among other issues.

Source: Macau Hub