AGREEMENT IN THE FORM OF AN EXCHANGE OF LETTERS concerning the provisional application of the Protocol establishing the fishing rights and financial compensation provided for in the Agreement between the European Economic Community and the Government of the Republic of Senegal on fishing off the coast of Senegal for the period from 1 May 1997 to 30 April 2001

A. Letter from the Government of Senegal

Sirs . . .,

With reference to the Protocol initialled on 26 March 1997 establishing fishing rights and financial compensation for the period from 1 May 1997 to 30 April 2001, I have the honour to inform you that the Government of Senegal is prepared to apply the Protocol on a provisional basis with effect from 1 May 1997, 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 25 % of the financial compensation specified in Article 3 of the Protocol is paid by 31 July 1997.

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

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

For the Government of the Republic of Senegal

B. Letter from the Community

Sirs . . .,

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 26 March 1997 establishing fishing rights and financial compensation for the period from 1 May 1997 to 30 April 2001, I have the honour to inform you that the Government of Senegal is prepared to apply the Protocol on a provisional basis with effect from 1 May 1997, 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 25 % of the financial compensation specified in Article 3 of the Protocol is paid by 31 July 1997.

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 such provisional application.

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

On behalf of the Council of the European Union