AGREEMENT in the form of an exchange of letters concerning the provisional application of the Protocol establishing, for the period from 1 January 1994 to 31 December 1995, the fishing rights and financial compensation provided for in the Agreement between the European 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

Brussels, . . . . . .

Sir,

With reference to the Protocol initialled on 24 February 1994 establishing fishing rights and financial compensation for the period from 1 January 1994 to 31 December 1995, 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 1994, pending its entry into force in accordance with Article 8 of the said Protocol, provided that the European 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 June 1994.

I should be obliged if you would confirm the European 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

Brussels, . . . . . .

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 24 February 1994 establishing fishing rights and financial compensation for the period from 1 January 1994 to 31 December 1995, 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 1994, pending its entry into force in accordance with Article 8 of the said Protocol, provided that the European 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 June 1994.

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

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

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

On behalf of the Council the European Union