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Win-win fisheries agreement signed between Gabon and the EU

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Tuesday, 24 July 2018

Win-win fisheries agreement signed between Gabon and the EU

In a communiqué issued on Friday, the European Union welcomed what it described as a win-win fisheries sector partnership signed with Gabon, in a transparent and public regulatory framework. The fisheries agreement has been in force since 2006 and is implemented via three-year periods which specify the tonnage of catches authorised by tuna vessels, as well as the financial compensation paid into Gabonese public funds by the EU and by the private owners of the vessels, rising to €9.7 million (6.363 billion CFA francs) for the final protocol (2013-2016). Since the last protocol expired in 2016, negotiations have been under way for a new protocol. As a result, fishing activity by European vessels in Gabonese waters (Exclusive Economic Zone) has ceased since the expiration.

Source: Financial Afrik