Economy

Russia and Morocco in Talks to Extend Fishing Agreement

Morocco and​ Russia​ Chart a Course for Continued Fishing Cooperation⁤

Morocco and Russia are sailing towards a new era in their fishing relationship. The two countries are currently engaged in talks to renew ⁤their ⁣fisheries morocco-imminent/” title=”Sound Energy: Morocco Poised for Natural Gas Production”>agreement, with​ a potential ‌four-year extension on the⁤ horizon. This new agreement, slated to begin in 2025, would‍ grant ⁢Russian vessels access to fish across Morocco’s⁤ expansive Atlantic coastline, including the⁢ waters off the disputed Western Sahara region.

This move signals a deepening of ties between the two nations, ⁣even in the face of recent legal challenges.⁣ Notably, ‌these negotiations predate the European Court of Justice’s ruling to annul EU-Morocco agriculture and fisheries agreements due to their inclusion of the Western Sahara.

The current agreement, ‌inked in ‌2020, permits ‍a Russian fleet of 10 vessels to fish within 15 nautical miles of Morocco’s shores. In ‍return, Russia provides Morocco⁤ with an annual fee of $7 million and​ a percentage of the total‌ catch ​value. This agreement,‌ already the eighth ‌iteration of a partnership established in 1992, underscores the long-standing nature of the two countries’ fishing collaboration.

As a temporary measure, the existing agreement, set to expire ⁤in October 2024, has been extended ⁣until December​ 31, 2024. This ‍extension, reported by Russian economic news outlet “Vinmarket,” provides a bridge for the negotiation of the new agreement. ‌

The potential⁢ for a new​ four-year agreement signifies Russia’s continued interest in accessing Morocco’s rich‍ fishing grounds. This partnership allows Russia to maintain a steady supply of fish, contributing‌ to its domestic food security and⁣ economic⁣ interests.

For Morocco, the agreement represents not only a source of revenue but also an opportunity to bolster its position on the utilization of resources ​in‌ the waters off Western ‍Sahara. The agreement’s potential extension despite the⁣ ECJ ruling underscores the complexities surrounding ⁣the Western Sahara issue and its impact on ​international agreements.

As negotiations continue, the⁤ final terms of the new agreement remain to be seen. However, the ongoing dialogue⁢ between Morocco⁣ and ⁣Russia highlights the ‍enduring significance of their fishing partnership in ‌a world grappling with​ issues of food security, economic cooperation, and geopolitical complexities.

The MoroccoMirror team

The MoroccoMirror team is a group of passionate journalists dedicated to Morocco and its rich culture and history. We strive to provide comprehensive coverage of the latest events in the country, from politics and economics to culture and sports. Our commitment is to deliver accurate and reliable information to our readers, while maintaining an engaging and enjoyable style.

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