AGREEMENT in the form of an exchange of letters concerning the provisional application of the Protocol establishing, for the period from 1 January 1992 to 31 December 1993, the fishing rights and financial compensation provided for in the Agreement between the European Economic Community and the Government of the Republic of Guinea on fishing off the Guinean coast

A. Letter from the Government of the Republic of Guinea

Sir,

With reference to the Protocol initialled on 11 December 1991 establishing fishing rights and financial compensation for the period from 1 January 1992 to 31 December 1993, I have the honour to inform you that the Government of the Republic of Guinea is ready to apply this Protocol on a provisional basis, with effect from 1 January 1992, pending its entry into force in accordance with Article 8 of the said Protocol, provided that the European Economic Community is disposed to do the same.

This is on the understanding that a first instalment equal to 50 % of the financial compensation specified in Article 2 of the Protocol is paid by 30 April 1992.

I should be obliged if you would confirm the European Economic Community's agreement to such provisional application.

Please accept, Sir, the assurance of my highest consideration.

For the Government of the

Republic of Guinea

B. Letter from the Community

Sir,

I have the honour to acknowledge receipt of your letter of today's date, which reads as follows:

'With reference to the Protocol initialled on 11 December 1991 establishing fishing rights and financial compensation for the period from 1 January 1992 to 31 December 1993, I have the honour to inform you that the Government of the Republic of Guinea is ready to apply this Protocol on a provisional basis, with effect from 1 January 1992, pending its entry into force in accordance with Article 8 of the said Protocol, provided that the European Economic Community is disposed to do the same.

This is on the understanding that a first instalment equal to 50 % of the financial compensation specified in Article 2 of the Protocol is paid by 30 April 1992.

I should be obliged if you would confirm the European Economic Community`s agreement to such provisional application.'

I have the honour to confirm the European Economic Community's agreement to this provisional application of the Protocol.

Please accept, Sir, the assurance of my highest consideration.

On behalf of

the Council of the European Communities