Partnership Agreement between the European Community and the Federated States of Micronesia on fishing in the Federated States of Micronesia

By adopting this Agreement, the Contracting Parties establish the principles, rules and procedures governing: (a) economic, financial, technical and scientific cooperation in the fisheries sector with a view to enhancing responsible fishing in the Federated States of Micronesia Exclusive Economic Zone, so as to ensure the conservation and sustainable exploitation of fisheries resources and develop the Federated States of Micronesia fisheries sector; (b) the conditions governing access by Community fishing vessels to Federated States of Micronesia Exclusive Economic Zone; (c) the arrangements for monitoring fisheries in Federated States of Micronesia Exclusive Economic Zone; (d) the measures for an effective conservation and management of fish stocks; (e) the prevention of illegal, unreported and unregulated fishing; and (f) the promotion of cooperation among economic operators including partnerships between companies aimed at developing economic activities in the fisheries sector and related activities. The Protocol annexed to the Agreement establishes the fishing opportunities and financial contribution to be granted by the European Community. Moreover, the Annex regulates application formalities and issue of fishing licences.