The European Union (EU) and Mozambique have reached an agreement on fisheries quotas reserved for European vessels operating in Mozambican territorial waters, according to a statement issued Tuesday in Brussels.
Lasting three years, the new fisheries agreement will be effective from 1 January, 2012.
It sets the quota of fish for European vessels to 8,000 tons against 10,000 for the current agreement.
The statement said both sides had scaled back the quota because of piracy in the Indian Ocean, which caused a decline in fish catches.
The agreement states that despite the reduction in the quota of fish, the compensation paid to Mozambique is increased from 250,000 euros to 460,000 euros per year to support the fisheries sector.
Under the new agreement, 75 European vessels, including 43 seiners and 32 longliners, may operate in Mozambican territorial waters