FFA administers and provides support for negotiations and meetings regarding several fishing treaties. The FSM Arrangement was developed as a mechanism for domestic vessels of the PNA to access the fishing resources of other parties. It was signed on the 30 Nov 1994 and came into force on the 23 Sep 1995. Signatories are Federated States of Micronesia, Marshall Islands, Nauru, Palau, Papua New Guinea and Solomon Islands.
The FSM Arrangement aims to: Provide access for Domestic Vessels to parties’ waters on terms no less favourable than those granted to distant water fishing nations; secure maximum sustainable economic benefits from tuna resources; promote greater participation by nationals of Parties in fisheries & assist in development of national fisheries industries; allow access to vessels on terms consistent with Palau Arrangement.
Fishing vessels are eligible, based on the following criteria: Good standing on FFA Vessel Register, details of a vessel, Home-Party bilateral licence for 1 yr, sponsored by Home-Party and vessels must meet FSMA Eligibility Criteria with a minimum of 25 points.
The points system is as follows:
1.Equity - 8 Maximum Points, 2.Vessel Flags - 8 Maximum Points, 3.Employment - 10 Maximum Points, 4.Offloading - 8 Maximum Points, 5.Fuel Purchase - 8 Maximum Points, Either/Or 6. Gov’t Revenue - 10 Maximum Points, 7. Onshore Develpment - 10 Maximum Points.