The European Commission, on behalf of the European Union, and the Republic of Mozambique have initialled a new fisheries agreement in Maputo. This agreement and its protocol will become applicable on 1 January of the year following their adoption by the Council, expected some time next year, for a period of three years. This protocol will provide fishing possibilities for tuna and deep-water shrimp for a total of 59 EU vessels, the Commission said. The financial compensation which will be entirely dedicated to targeted measures to strengthen Mozambique's efforts at ensuring sustainable fishing amounts to €4.09m (US$3.98m) per year.