Brussels, 19/05/2004 (Agence Europe) - The European Union and the Federated States of Micronesia have signed a fisheries agreement to run for three years. The agreement provides the possibility for Community vessels to catch tuna. The agreement is expected to take effect on 1 January 2005, after approval by Member States (and the European Parliament's opinion). Fishing rights could be adjusted in the light of scientific opinion and in respect for the rules of the so-called "Palau" arrangement, which aims to coordinate the management of seine fisheries in the western central Pacific.
The agreement between the parties provides fishing possibilities for 6 tuna seiners and 12 surface long-liners. Annual financial compensation amounts to EUR 559,000 for an annual tuna catch of 8,600 tonnes. Part of the financial compensation (18%) has been earmarked for measures to ensure sustainable fisheries in the waters of the FSM. EU ship owners pay an advance licence fee of EUR 15,000 per tuna seiner and EUR 4,200 per long-liner.
The fisheries agreement with the Federated States of Micronesia is the third of its kind to be signed by the European Union with a Pacific country. The first was signed with Kiribati in 2002 and the second early this year with the Solomon Islands. Fifty percent of the annual world catches of albacore, bigeye tunny, bonito and yellow fin tuna come from the waters of the western Pacific.