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This Regulation shall enter into force on the seventh day after its publication in the Official Journal of the European Union.

1. The Parties hereby undertake to promote responsible fishing in the FSM EEZ based on the principle of non-discrimination between the different fleets fishing in the zone, without prejudice to agreements concluded between developing countries within a geographical region, including reciprocal fisheries agreements.

2. The Parties shall cooperate with a view to assisting the FSM in defining and implementing a sectoral fisheries policy in FSM EEZ and shall to that end initiate a policy dialogue on the necessary reforms. They hereby undertake to inform and consult each other on any change in the sectoral fisheries policy.

3. The Parties shall also cooperate on carrying out ex ante, ongoing and ex post evaluations, both jointly and unilaterally, of measures, programmes and actions implemented on the basis of this Agreement.

4. The Parties hereby undertake to ensure that this Agreement is implemented in accordance with the principles of good economic and social governance.

5. The employment of FSM seamen on board Community vessels shall be governed by the International Labour Organisation (ILO) Declaration on Fundamental Principles and Rights at Work, which shall apply as of right to the corresponding contracts and general terms of employment. This concerns in particular the freedom of association and the effective recognition of the right to collective bargaining, and the elimination of discrimination in respect of employment and occupation.