Reference
This document has been drafted and submitted by the Ministry of Foreign Affairs together with the Ministry of Agriculture.
The Convention aims to ensure the long-term preservation and sustained use of fish resources in the areas covered by the Convention.
Due to the intensive exploitation of commercial biological resources in the exclusive economic zone of the Russian Federation, the Russian fisheries sector is interested the resumption and expansion of catches in foreign states’ zones and in the areas covered by the convention. The northern sector of the Pacific Ocean is among the most promising areas.
The Russian Federation’s accession to the Convention will allow Russian vessels to catch fish in the high seas of the North Pacific.
After the accession to the Convention, the Russian Federation will have to pay annual national fees worth at least $45,000 in line with federal budget allocations being stipulated to the Federal Agency for Fishery for the fulfillment of international obligations of the Russian Federation.