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The Chair's negotiating text says that coastal States and States fishing on the high seas that participate in a regional or subregional fisheries management organization or arrangement shall: agree on allocations of quotas or of effort limits; adopt and apply international minimum standards for the responsible conduct of fishing operations; develop agreed standards for collection, reporting, verification and exchange of data and information; compile and disseminate accurate and complete statistical data; conduct and disseminate the results of scientific analyses; establish appropriate cooperative mechanisms; develop and use environmentally safe and cost-effective fishing techniques; agree on measures to deter non-parties from undermining the effectiveness of agreements; agree on means by which the fishing interests of new entrants will be accommodated; provide procedures for compulsory settlement of disputes; and consult with other relevant fisheries organizations and arrangements. The paper also urged that regional fisheries organizations should be transparent.