AGREEMENT IN THE FORM OF AN EXCHANGE OF LETTERS between the European Community and the Government of the Republic of Guinea concerning the provisional application of the Protocol establishing the fishing possibilities and the financial compensation provided for in the Agreement between the European Economic Community and the Government of the Revolutionary People's Republic of Guinea on fishing off the Guinean coast for the period 1 January 1998 to 31 December 1999

A. Letter from the Government of the Republic of Guinea

Sir,

With reference to the Protocol, initialled on 11 December 1997, establishing the fishing possibilities and the financial compensation for the period 1 January 1998 to 31 December 1999, I have the honour to inform you that the Government of the Republic of Guinea is ready to apply that Protocol on a provisional basis from 1 January 1998, pending the entry into force of the Protocol in accordance with Article 7 thereof, provided that the European Community is prepared to do the same.

This is on the understanding that the first instalment of the financial consideration specified in Article 2 of the Protocol is paid by 30 June 1998.

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

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 1997, establishing the fishing possibilities and the financial compensation for the period 1 January 1998 to 31 December 1999, I have the honour to inform you that the Government of the Republic of Guinea is ready to apply that Protocol on a provisional basis from 1 January 1998, pending the entry into force of the Protocol in accordance with Article 7 thereof, provided that the European Community is prepared to do the same.

This is on the understanding that the first instalment of the financial consideration specified in Article 2 of the Protocol is paid by 30 June 1998.

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, Sir, the assurance of my highest consideration.

On behalf of the Council of the European Union