Investment Immigration Bissau focuses on Bissau economic news: The European Union stated in Brussels that it has signed a new three-year fisheries agreement with Guinea-Bissau.
The new agreement stipulates that fishing vessels from EU member states, particularly Spain, France, Greece, Italy, and Portugal, are allowed to resume fishing in Guinea-Bissau waters. Guinea-Bissau permits 40 vessels from the aforementioned EU member states to operate in its waters, with an annual fisheries compensation payment of 9.2 million euros. Part of this amount (approximately 3 million euros) will be used for the development of Guinea-Bissau's fisheries, particularly to enhance monitoring at sea, regulate fishing capacity in Guinea-Bissau waters, improve health and quarantine standards, and encourage the development of traditional artisanal fishing operations in Guinea-Bissau.
In addition to compensation, each vessel must also pay corresponding taxes and fees based on the type of vessel and the quantity of fish caught.
