The EU and Guinea-Bissau signed an agreement for ships from some European countries to operate in Guinean waters. It happened after six business rounds in a year
According to Guinean Minister of Fisheries Adiatu Nandigna, in 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 euros per year for the European vessels fishing in its waters.
According to the new deal, of the €15.6 million per year, €11.6 million will be channeled into the Guinean government's general budget and the remaining € 4 million into supporting fishing 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 was considered to be low.
The agreement between the EU and Guinea-Bissau, signed since 2007, allows vessels from Portugal, Spain, Italy, Greece and France to fish tuna, cephalopods (octopus, squid, cuttlefish), shrimp and demersal species (sole and groupers) in Guinean waters.
Guinean Minister of Fisheries Adiatu Nandinga welcomed the fact that "the parties finally reached an understanding" and praised the importance of the European Union to Guinea-Bissau.
Nandinga said that Guinea-Bissau will comply with all agreed points, notably reinforcing the monitoring of its territorial waters, which is one of the main demands of the European Union, according to Emanuel Berck, a member of the EU Fisheries Cabinet.