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This article reviews the potential benefits and shortcomings of the Convention for the Conservation and Management of Highly Migratory Fish Stocks in the Western and Central Pacific Ocean adopted in September 5, 2000, in Hawaii. The research findings rely on a detailed review of the negotiation process and the protracted debates between member states of the Forum Fishery Agency (FFA) and distant water fishing nations. The importance of this Convention for the long-term sustainability of the Pacific tuna stocks is emphasized in light of existing global fisheries instruments and regional mechanisms of cooperation whose limitations are outlined. [ABSTRACT FROM AUTHOR]