It will allow 71 EU vessels to fish for tuna and other highly migratory species in Cape Verdean waters. In return, the Union has increased its financial contribution and will pay Cape Verde €550 000 per year for the first two years of application and €500 000 per year for the final two years of application.
Half of the yearly financial contribution is paid for access to the resource and the other half is earmarked for promoting sustainable management of fisheries in Cape Verde, including reinforcement of control and surveillance capacities, and for supporting the local fishing communities.
The new protocol is fully in line with the principles of the recent reform of the Common Fisheries Policy (CFP), such as clauses on transparency and respect of human rights and an increase in the contribution paid by vessel owners to fish in Cape Verdean waters. It also provides for measures to improve the sustainability of fishing activities such as a reduction in long-liner fishing capacity, a monitoring mechanism for shark catches and a ban on fishing within 18 nautical miles of the shore for surface-long-liners and purse seiners. Both parties committed to respect fully all recommendations made by the International Commission for the Conservation of Atlantic Tunas (ICCAT).
The Member States with a main interest in the new Protocol are Spain, Portugal, and France.