RABAT, March 4 (Xinhua) -- The European Council adopted on Monday a decision on the conclusion of the Sustainable Fisheries Partnership Agreement between the EU and Morocco, paving way for its future implementation, Moroccan official MAP news agency reported.
This adoption followed the consent given by the European Parliament on Feb. 12 and formally marked the last step on the EU side, the report quoted a press release from the EU Council as saying.
The new agreement came after the previous four-year deal expired on July 14 last year, forcing some 120 European vessels to leave the Moroccan waters.
According to the new agreement, Morocco will get 52.2 million euros (61.1 million U.S. dollars) annually, up from 40 million euros in the previous deal, for allowing 128 EU vessels to fish in its waters.
The deal, which only concerns Morocco's Atlantic coasts, excludes the Mediterranean coast to preserve its overexploited resources.
It also excludes octopuses and shrimps to preserve these species.