The 1998 Agreement

1. In the Memorial of 19 June 1998 St. Vincent and the Grenadines referred to the 1998 Agreement of the parties merely by quoting its wording. St. Vincent and the Grenadines contended that only the objection as to Article 297 para. 3 of the 1982 United Nations Convention on the Law of the Sea (herein-after referred to as “the Convention”) could be invoked by the Republic of Guinea, whereas for example, the local remedies rule would be without relevance. This, however, is an interpretation of the Exchange of Letters dated 20 February 1998 (herein-after referred to as “the 1998 Agreement”) which is inacceptable and contrary to what the parties have agreed to. In order fully to understand the 1998 Agreement and to give it a correct interpretation, it is necessary to mention and quote the exchange of letters that finally resulted in the 1998 Agreement.

As stated in the letter of the Commissioner of Maritime Affairs and the Agent for St. Vincent and the Grenadines of 19 June 1998 to the International Tribunal for the Law of the Sea (herein-after referred to as the “International Tribunal”), the 1998 Agreement was reached “through the good offices of the President of the International Tribunal for the Law of the Sea.” As may be confirmed by the President and the Registrar of the International Tribunal, the 1998 Agreement has indeed been concluded in close co-operation with the International Tribunal.