2. The Parties undertake to promote the setting up of temporary joint ventures between EU operators and Guinea-Bissau operators with a view to the joint exploitation of fishery resources in the Guinea-Bissau exclusive economic zone (EEZ).
3. ‘Temporary Joint ventures’ means any association set up on the basis of a contractual agreement of limited duration between EU vessel owners and physical or legal persons in Guinea-Bissau for the purpose of jointly fishing for and exploiting Guinea-Bissau fishing quotas using one or more vessels flying the flag of a Member State of the European Union and sharing the cost profits or losses of the economic activity jointly undertaken.
4. Guinea-Bissau shall award the authorisation required to allow temporary joint ventures set up for the exploitation of fishery resources to operate in its fishing zones.
5. EU vessels which have decided to set up temporary joint ventures under the Protocol in force for the fishing categories referred to in points (a) and (b) of Article 1(1) of this Protocol will be exempt from the payment of licence fees. Moreover, from the third year of application of the Protocol, Guinea-Bissau shall make financial support available for setting up such temporary joint ventures. The total amount of such support shall not exceed 20 % of the total amount of fees paid by vessel owners under this Protocol.
6. The Joint Committee shall decide the financial and technical provisions allowing for the implementation of this financial support and the promotion of temporary joint ventures within the framework of this Protocol.
Article 11
Disputes – Suspension of application of the Protocol
1. The application of this Protocol may be suspended at the initiative of one of the two Parties after consultation within the Joint Committee if one of the two Parties violates one of the essential and fundamental elements of human rights and democratic principles as provided for in Article 9 of the Cotonou Agreement.
2. Furthermore, any dispute between the Parties over the interpretation of this Protocol and its Annexes or its application shall be the subject of consultations between the Parties within the Joint Committee, in a special meeting if necessary.
3. Application of the Protocol may be suspended at the initiative of one of the Parties if the dispute between the two Parties is deemed to be serious and if the consultations held within the Joint Committee under paragraph 1 have not resulted in an amicable settlement.
4. Suspension of application of this Protocol shall require the interested Party to notify its intention in writing at least 3 months before the date on which suspension is due to take effect.
5. In the event of suspension, the Parties shall continue to consult with a view to finding an amicable settlement to their dispute. Where such settlement is reached, application of the Protocol shall resume and the amount of the financial contribution shall be reduced proportionately and pro rata temporis to the period during which application of the Protocol was suspended.
Article 12
Suspension of application of the Protocol for failure to implement Guinea-Bissau’s undertakings on responsible and sustainable fishing
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