Nauru Agreement on tuna fisheries signed in Nauru (in force 4 Dec 1982); the FSM is a party.

What happened

The Nauru Agreement brings together eight Pacific island states, the FSM among them, to manage tuna purse-seine fishing in their waters together, including shared licensing and, later, a cap on fishing days. Sources do not clearly confirm that the FSM signed in 1982 rather than joining later.

Why it matters

Fishing licence fees became the FSM’s largest home-grown revenue, about 17% of GDP by FY2022.