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The Chair's negotiating text provides that coastal States and States whose vessels fish on the high seas shall cooperate to ensure long-term sustainability of straddling fish stocks and highly migratory fish stocks on the high seas. States shall give effect to the duty to cooperate by establishing conservation and management measures for these stocks and commit themselves to responsible fishing, in a manner consistent with UNCLOS. These measures should be directed at maintaining or restoring stocks at levels capable of producing maximum sustainable yield; promoting utilization and ensuring long-term sustainability; maintaining and restoring populations of associated or dependent species; promoting the development and use of environmentally-safe and cost-effective fishing techniques; taking into account the special requirements of developing countries; enhancing the level of certainty in management decision-making through collecting and sharing of data; and promoting scientific research. The precautionary approach shall be applied widely by States to fisheries management and exploitation. The Conference requested FAO to prepare a technical paper on the issue.