In the event of the seizure or detention, under the 

 terms of the applicable Mauritanian legislation, of a 

 fishing vessel flying the flag of an EC member state, 

 the EC representative is notified within 48 hours. 



4. Joint Ventures 



The following are among the joint ventures 

 established under Mauritania's 1979 law encouraging 

 investments in the fishing sector: 



• SALIMAUREM (Societe Arabe Libyenne 

 Mauritanienne des ressources man times), a 

 Libyan-Mauritanian venture. 



• SIMAR (Societe Industrielle Mauritano- 

 Roumaine), a Mauritanian-Romanian venture that 

 ceased operation in early 1993. 



• M AUSOV (Mauritano-Sovietique des peches), 

 a Russian-Mauritanian venture. 



• ALMAP (Algero-Mauritanienne des peches) 

 an Algerian-Mauritanian venture. 



• MTP (Mauritano-Tunisienne des peches), a 

 Tunisian-Mauritanian venture. 



• COM ACOP (CompagnieMauritano-Coreenne 

 de peche), a South Korean-Mauritanian venture. 



• SIPECO (Societe Internationale de peche et 

 de commerce), a French-Mauritanian venture. 



• Mauritanian-Chinese Company 



These joint ventures are governed by agreements 

 and various regulations. The joint-venture 



agreements stipulate that 51 percent of capital is be 

 owned by Mauritanian shareholders, but that the 

 management and technical services be furnished by 

 the foreign shareholders. The vessels involved in 

 these companies are differentiated by fishing methods 

 and specialty. Both freezer and refrigerator vessels 

 are operating to catch pelagic fish (surface species), 

 demersal fish (deep-sea species), and cephalopods 

 (mainly octopus and squid). 



 For MAUSOV, SIMAR and SIPECO, the 

 vessels involved are the "Super- Atlantic" freezer 

 vessels specializing in pelagic fish. These 



trawlers are from 80- to 100-meters in length. 

 The conditions under which MAUSOV operates 

 are: one third of the catch for the Mauritanian 

 side (given in cash or in fish) and two thirds for 

 the Russian side. 



 For SALIMUREM and ALMAP, the vessels 

 involved are the refrigerator vessels specialized 

 in demersal fish (deep-sea species) and 

 cephalopods (mainly squid). 



In September 1991, a total of 65 vessels were 

 operating in Mauritanian waters under joint venture 

 agreements. Besides SIMAR, it is expected that 

 other joint ventures will also close due to the crisis in 

 Mauritania's fishing sector. After two or three years 

 of profits, the rate of return on investment in these 

 ventures starts to decrease and eventually became 

 negative. Some of the causes of this situation are the 

 high cost of operation, which generates heavy losses, 

 and the mismanagement associated with poorly 

 qualified workers. Over the long term, many 

 observers believe that the outlook for joint ventures 

 with East European countries is bleak, because the 

 subsidized fuel that these former states provided for 

 vessel operation is no longer available. 



5. Aid Programs 



Mauritania's principal aid donors (France, 

 Germany, Japan and Spain) and international 

 organizations (African Development Fund, European 

 Development Fund, Arab Fund for Social and 

 Economic Development, World Bank), have extended 

 loans to the country's fishing sector. The following 

 are among the projects financed by international 

 donors: 



 Development of "Imraguen Banc D'Arguin," a 

 fishery located between Nouakchott and Nouadibou, 

 financed by UNDP. 



 Coastal surveillance program, financed by 

 Germany and France. 



 Traditional fishing development, financed by the 

 Arab fund. 



 Rehabilitation of "Baie Du Repos," a fishery 

 located along the Northern Mauritanian coast, 

 financed by the Arab fund. 



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