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This Agreement shall enter into force on the date on which th e Parties notify one another of the completion of the procedures necessary for this purpose.; The purpose of this Agreement is to establish the principles and rules, which will govern in future the fishing activities of Community vessels, in the waters of the Republic of Se negal. Fishing activities by Community vessels in Senegal's fishing zone shall be subject to the possession of a licence issued at the Community's request by the authorities of Senegal. The authorities of the Republic of Senegal upon payment of a fee shall issue licences by the shipowner concerned. Vessels authorized to fish in Senegalese waters under this Agreement shall be obliged to forward to the relevant Senegalese authorities statements of catches. In return for the fishing opportunities accorded under this Agreement, the Community shall pay the Republic of Senegal compensation.; FAO Descriptors: 110; 105; 020; 003