RF Government says it approved the draft Agreement on the Prevention of Unregulated High Seas Fishing in the Central Part of the Arctic Ocean.
The aim of the future Agreement is to create an international legal framework for regulating the high seas fishing industry in the central part of the Arctic Ocean.
The document was submitted by the Ministry of Agriculture.
The Agreement has the preliminary approval of Denmark, Canada, Norway, Russia, the United States, China, Iceland, Japan, the Republic of Korea and the European Union.
The Agreement is aimed at preventing unregulated fishing on the open seas in the central Arctic Ocean according to the long-term strategy to protect healthy marine ecosystems and to ensure the preservation and sustainable use of fish resources.
The draft Agreement facilitates research cooperation between the Parties for the purpose of expanding knowledge of live marine resources in the central Arctic Ocean and their ecosystems.
The Agreement stipulates that each Party will allow vessels eligible for operating under its flag to engage in industrial fishing in the territory covered by the Agreement strictly in compliance with the measures aimed at sustainable management of fish reserves introduced by regional or subregional fishing organisations.
The Agreement will be in force from the effective date for the initial term of 16 years.
If signed, the Agreement will promote the development of international cooperation in Arctic fishing.