The Protocol provides the EU with fishing opportunities for fish (including tuna), cephalopods and shrimps. In return, the EU will pay Guinea Bissau an annual compensation of € 9.2 million, out of which € 3 million is earmarked to support the fisheries policy of Guinea Bissau. European vessel owners will continue to pay a license fee to fish in Guinea Bissau waters. The Protocol reinforces the role of the joint scientific committee to improve scientific advice and further develop the management measures. Control too will be improved thanks to the use of vessel monitoring system (VMS) and electronic logbooks. It also includes a clause on the respect of human rights. The EU and Guinea Bissau have decided to reinforce cooperation between economic operators in the fisheries sector.
The Protocol will be valid for 3 years and will replace the current one, which expires on 15 June 2012. The Member States with an interest in it are mainly France, Portugal and Spain.
Maria Damanaki, European Commissioner in charge of Maritime Affairs and Fisheries said: "Both parties are satisfied with the results of the negotiations. This new Protocol underscores the continuous strong co-operation on fisheries between the EU and Guinea Bissau".