Consequently, economic sustainability should result in improved biological sustainability, since a well-functioning rights-based management system should lead to an increased interest on the part of fishermen and industry in the sustainability of this basic resource.

It has been done on a coordinated basis and these principles of sustainabilty of the resource, conservation of the resource, and the sustainability of the industry have been adhered to.

It has been argued that economic sustainability will, in the longer term, also deliver improved biological sustainability, since a well-functioning RBM system should lead to an increased vested interest of fishermen and industry in the sustainability of the resource base.

Social principles, technological viability and the context in which methods are applied are all of great importance to sustainability; the first principle of sustainability is to know how to combine general principles with the imposed rules to suit the needs of each community, each location, each climate and each context.

WHEREAS: DFO has identified conservation, sustainability and viability as core principles and will proceed cautiously with emerging fisheries development, in accordance with the precautionary approach, an ecosystem approach and with other sound principles of fisheries management in order to better understand the impact of new fisheries on fish stocks and the ecosystem.

- - - OBJECTIVES While maintaining the existing CFP legislation, and in order to improve it, the Commission proposal lays down guidelines which can be summarized as follows: - ONE OBJECTIVE: to ensure the sustainability of activities in the fisheries sector while at the same time ensuring the economic and social viability of the sector by means of stable, rational and responsible exploitation of living aquatic resources. - TWO MISSIONS: regulation of fishing effort and rationalization of the exploitation of these resources. * COM(92)387/4. - THREE PRINCIPLES: a global approach, focussing attention, energies and resou ...[+++]rces on the regulation of access; a coherent policy, taking account of all the parameters likely to influence fishing mortality and, lastly, the institutionalized division of responsibilities between the Community, national and regional authorities and the socio-economic agents in the sector.