Economy

Russia and Morocco in Talks to Extend Fishing Agreement, Including Western Sahara

Morocco and Russia Chart a⁤ Course for Continued Fishing Cooperation

Morocco and Russia are sailing towards a new era ​of​ fishing​ cooperation, with negotiations underway for a four-year agreement starting in 2025. ⁣This agreement would grant Russian vessels access to Morocco’s rich Atlantic fishing grounds, including ⁣waters off the coast of the Western Sahara.

The negotiations, which began before the European Court of Justice’s ruling on fishing ​agreements with Morocco, signal a commitment from both nations to maintain​ a mutually ‍beneficial ⁤partnership. ⁢This commitment is further solidified by the⁣ recent three-month extension of the existing agreement, originally set​ to expire in October 2024, now reaching until the end of⁢ the year. This‍ extension, reported ‌by Russian economic ⁣news outlet Finmarket, ⁤provides ⁢a bridge for ⁢the finalization of the new agreement.

The current ⁣agreement, signed in 2020, permits a Russian ⁢fleet of 10 vessels to fish within⁤ 15 nautical ⁤miles of⁣ Morocco’s coastline. ​In ‌return,‌ Russia pays Morocco an annual fee of $7 million ​and provides 17.5% of the total⁢ value of the​ catch. The agreement also mandates the employment of at least 16 Moroccan citizens on each Russian vessel, fostering job⁣ creation and knowledge transfer within the Moroccan‌ fishing industry.

This ongoing collaboration, a​ continuation of an agreement ⁣first established in 1992,‍ highlights⁤ the enduring economic and diplomatic ties between Morocco and⁤ Russia. The ⁢new agreement, with its extended timeframe and continued ‍focus on sustainable fishing practices, has the potential ​to further strengthen these⁢ ties and contribute to the prosperity of both nations.

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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