The European Union (EU) and Guinea-Bissau today signed the fisheries agreement for vessels from some European countries to operate in Guinean waters after six trading rounds for more than a year, the fisheries minister announced today.
According to Minister Adiatu Nandigna, in the light of the new fisheries agreement, the European Union will pay Guinea-Bissau € 15.6 million per year for five years.
In the previous agreement, which expired in November 2017, Bissau received € 9.5 million per year for European vessels fishing in its waters.
According to the new agreement, of the € 15.6 million per year, € 11.6 million will be channelled into the Guinean government’s general budget and the remaining € 4 million to support fisheries infrastructures, water monitoring and research.
The Guinean government decided not to renew the agreement with the EU, calling for an increase in the value of compensation, which it considered low.
The agreement between the EU and Guinea-Bissau initialled since 2007, allows vessels from Portugal, Spain, Italy, Greece and France to fish in Guinean waters tuna, cephalopods (octopus, squid, cuttlefish), shrimp and demersal species (sole and groupers).
Guinean fisheries minister Adiatu Nandinga welcomed the fact that “the parties finally reached an understanding” and praised the importance of the European Union to Guinea-Bissau.
Mr Nandinga said Guinea-Bissau will comply with all agreed points, notably strengthening territorial waters, which is one of the main demands of the European Union, according to Emanuel Berck, a member of the EU Fisheries Cabinet.