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A/CONF.164/13:

The Chair's negotiating text says that coastal States and States whose vessels fish on the high seas shall cooperate in relation to straddling and highly migratory fish stocks bilaterally and/or multilaterally through regional fisheries management organizations or consultative arrangements. States shall enter into consultations in good faith and without delay, particularly where there is evidence that the stock(s) concerned may be under threat of over-exploitation. Regional and subregional fisheries management organizations and arrangements shall be open to participation, on a non-discriminatory basis, to all States with an interest in the stock(s) concerned. States with an interest in the stock(s) concerned, which are not parties to an existing competent regional or subregional fisheries management organization, shall be encouraged to participate in the work of that organization. Only those States that participate in the work of a regional organization should have access to the regulated fishery. New members of a regional fisheries management organization or parties to an arrangement shall generally be entitled to accrue benefits in exchange for the obligations they undertake. Where no subregional or regional fisheries management organization or arrangement exists, States should enter into agreements or arrangements to ensure effective conservation and management of the stock(s) in question. States shall strengthen existing regional and subregional fisheries management organizations and arrangements.