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Within this Code of Conduct, several International Plans of Action (IPOAs), which would apply to "all States and entities and to all fishers," have been suggested. Specifically, for the management of fishing capacity, "States should take measures to prevent or eliminate excess fishing capacity and should ensure that levels of fishing effort are commensurate with sustainable use of fishery resources." Possible solutions in this case include well-defined property rights for international waters, "incentive blocking measures," such as fishing seasons and closed areas, and "incentive adjusting measures," which would include requiring a fishing license and quotas. The suggested action to be taken currently involves assessing and monitoring fishing capacity as well as preparing and implementing national plans (Fisheries and Aquaculture Department, 2007). Immediate action would focus on major international fisheries requiring urgent attention. Considerations would include the needs of specific countries. International compliance is the main difficulty facing the actual implementation of these proposals. Unfortunately, no specific plans have been on proposed, hence the need for further reforms.
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The European Commission. (14 March 2005). Fisheries and Maritime Affairs. Received 21 November 2007, from http://ec.europa.eu/dgs/fisheries/missn_en.htm.
Fisheries and Aquaculture Department. (2007) Retrieved October 25, 2007, from Fisheries and Aquaculture Department Web site: http://www.fao.org/fi/website/FIRetrieveAction.do?dom=org&xml=FI_org.xml&xp_nav=1