Guinea-Bissau and the European Union have signed a new fisheries agreement that will last for 5 years, with the EU investing up to 100 million euros (108 million dollars) in developing the fisheries sector in this West African country.
According to local media reports today, the agreement was signed by Mario Monteiro, Minister of Fisheries and Maritime Economy in Guinea-Bissau, and Artur Delgado, the EU Ambassador to Guinea-Bissau.
Under this agreement, the EU will provide annual investments of 20 million euros (around 22 million dollars) in the fisheries sector in Guinea-Bissau until 2029.
Mario Monteiro mentioned that they are discussing lifting technical and health restrictions on fish exports with their European partners to allow Guinea-Bissau to export its fish directly to the European market.
On his part, the EU Ambassador to Guinea-Bissau confirmed that the investments will focus on infrastructure development, maritime surveillance, combating illegal fishing, and assisting coastal communities. He also noted that Guinea-Bissau will allow ships from companies based in Portugal, Spain, France, Italy, and Greece to fish in its waters.
Fish exports in Guinea-Bissau are one of the main food products exported, alongside fruits, vegetables, and meat. According to data from the Central Bank of Guinea-Bissau, fish exports added 500 million CFA francs (829 thousand dollars) to the country's revenues in 2022, with the European Union being a key trading partner for the country.
