Mauritania and the European Union have signed a new fishing accord on the EU's exact financial contribution. "We agreed on a two-year accord after a marathon 15 months of negotiations that were intense at times," Mauritanian negotiator Cheikh Ould Baya said after signing the accord. The EU will contribute an annual 113 million euros ($138 million) in financing to Mauritania's fishing industry, up from the 76.5 million it gave under the previous accord, he was quoted as saying by Qatar News Agency (QNA). Under the new accord, the two sides agreed that the EU boats fishing in Mauritanian waters would be staffed 60% by Mauritanians. According to official statistics, the fishing sector represents over 20% of budget revenue and employs more than 36,000 people in Mauritania.