United Nations Convention on the Law of the Sea
United Nations Convention on the Law of the Sea: adopted on 10 December 1982 and entered into force on 16 November 1994. The Convention creates a framework for the protection of the sea, the seabed and subsoil as well as the airspace above it. It is intended to promote the peaceful uses of the seas and oceans, the equitable and efficient utilization of their resources, and the study, protection and preservation of the marine environment. Part V of the Convention is of greatest interest to trade policy. It creates the Exclusive Economic Zone (EEZ) not extending beyond 200 nautical miles from the baseline, normally the low-water line along the coast. In the EEZ the coastal state has sovereign rights for the purpose of exploring and exploiting, conserving and managing the the natural resources of the sea and the seabed. It has the same right for the economic exploitation and exploration of the EEZ, such as the production of energy from the water, current and winds.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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