As per reports from local media outlets, the pact was formally ratified by Mario Monteiro, the Minister of Fisheries and Maritime Economy in Guinea-Bissau, and Artur Delgado, the EU Ambassador to Guinea-Bissau.
As part of the accord, the European Union will allocate annual funding of 20 million euros (approximately 22 million dollars) towards bolstering the fisheries industry in Guinea-Bissau until 2029. Monteiro expressed ongoing discussions with their European counterparts regarding the potential removal of technical and health barriers on fish exports, facilitating direct exports to the European market.
Delgado, the EU Ambassador to Guinea-Bissau, highlighted that the financial injections will primarily target infrastructure enhancements, maritime surveillance, anti-illegal fishing measures, and support for coastal communities. Additionally, he underscored that Guinea-Bissau has agreed to permit vessels from Portuguese, Spanish, French, Italian, and Greek companies to engage in fishing activities within its waters.
Fish exports represent a significant component of Guinea-Bissau's export portfolio, alongside fruits, vegetables, and meat. Notably, data from the Central Bank of Guinea-Bissau indicates that fish exports contributed 500 million CFA francs (equivalent to 829 thousand dollars) to the country's revenue in 2022, with the European Union serving as a pivotal trading partner for Guinea-Bissau.
