The Fisheries Commission,
NOTING that considerable work and progress have occurred toward implementation of the precautionary approach within the NAFO context;
NOTING Article 6 and Annex II of the Agreement for the Implementation of the Provisions of the United Nations Convention on the Law of the Sea Relating to the Conservation and Management of Straddling Fish Stocks and Highly Migratory Fish Stocks;
NOTING the provisions of Article 7.5 of the FAO Code of Conduct for Responsible Fisheries;
NOTING the Roles and Responsibilities of Scientists and Managers outlined in Annex 3 to the Report of the Working Group on Precautionary Approach (NAFO/FC Doc. 98/2);
DESIRING to further harmonize terminology and application of the precautionary approach within relevant fisheries organizations;
FURTHER DESIRING to be precautionary in its management of stocks within the NAFO Regulatory Area;
RESOLVES to apply a precautionary approach widely for stocks under NAFO purview and to achieve this goal agree:
1. To determine precautionary reference points for stocks where sufficient information exists.
2. For all other stocks, to determine provisional precautionary reference point, whenever possible, and a precautionary approach otherwise.
3. To provide mechanisms to fill in data gaps.
4. To implement precautionary management strategies (harvest control rules), consistent with 1. and 2. above.
5. To consider additional supportive management measures to complement the application of the precautionary approach.
6. To define and adopt precautionary strategies for the re-opening of fisheries and for new and developing fisheries.
7. To harmonize terminology and concepts for the application of the precautionary approach within relevant fisheries organizations.