Agreement between the European Economic Community and the Government of the Revolutionary People's Republic of Guinea on fishing off the Guinean Coast - Protocol defining the fishing rights and financial compensation provided for in the Agreement between the European Economic Community and the Revolutionary People's Republic of Guinea - Exchange of letters.

The purpose of this Agreement is to establish the principles and rules which will govern in future, the fishing activities of Community vessels in the waters of the Revolutionary People's Republic of Guinea. Only Community vessels in possession of a licence issued at the Community's request may carry out fishing activities in Guinea's fishing zone. Licences shall be valid, on application by the shipowner, for periods of whole months up to 12 months. The amount of the fee and the methods of payment are given in Annex I.
The licence fees shall be equivalent to the following annual amounts: (a) 100 ECU/GRT; or (b) 80 tonnes of fish landed in a Guinean port; or (c) 70 ECU/GRT and 30 % of the quantities specified under (b) for trawlers; (d) 120 ECU/GRT for shrimp boats taking mixed catches including over 30 % of shrimps by weight.
Infringements shall be penalised as follows: (a) payment of a fine of 50 000 to 75 000 ECU for non-compliance with mesh size or fishing zones; (b) suspension of fishing licence for failure to supply fishing statistics; (c) payment of a fine of 1 000 ECU per tonne of fish not landed. In return for the fishing opportunities granted under this Agreement, the Community shall pay the Revolutionary People's Republic of Guinea compensation. The compensation shall be used to finance projects and services relating to fishing. (16 articles and 2 Annexes)