As I said earlier, I think the historical context was different. At the time this convention was enacted, many of the other modern management instruments did not exist. I don't believe there was the same appreciation or understanding of the implications of overfishing. That is now well known and understood by all.
I believe that with the convention, with the spirit of cooperation that we see at NAFO, with the imperatives that are imposed on all members of NAFO by their own industries to ensure that they have the stability, certainty, and opportunity to fish continued rebuilding stocks, the public and fishing nations and NGOs....
What is occurring in markets is that it is a completely different world than what existed under the previous convention prior to the collapse of cod. Because of the measures that have been taken with respect to the 3M cod on the Flemish Cap, which has now been reopened after ten years of moratoria, the members of NAFO came together in a cooperative spirit in response to a proposal that came from the Canadian delegation to see, as opposed to an adoption of the old ways, which would have permitted a 10% bycatch in other fisheries of this 3M cod because the stock was open, the continuation of the protocols that were in place when the stock was under moratorium at a 5% bycatch. So we would carefully manage the rebuilding of this stock.
They also agreed that bycatches would count against the quotas of 3M cod for those who had quotas. This is all indicative of a new approach, and one that we would expect to be continuing. There are expectations for this regional management organization to be able to operate to high standards in a transparent way.