The Fisheries (Coral Reef Fin Fish) Management Plan 2003 will be reviewed in 2012. The project aim is for stakeholders to co-operate in developing a way forward with respect to Research and Development (R and D) requirements in the consideration of resource sharing options as a part of the Management Plan. Catch sharing arrangements and associated R and D between sectors of the fishery - commercial, recreational and charter - need to be explored. The fish resources are accessed by various fishery users and are of interest to conservation bodies, management agencies and the general public. Currently, the CPUE of both major species are declining (FRDC 2008/103) and there are believed to be areas of over-exploitation.

In order to ensure equality between sectors and for the resource to return maximum economic yields while remaining biologically sustainable in the long-term, there is a need to explore management arrangements and the associated R and D requirements. Stakeholders must work co-operatively to identify issues and discuss R and D options with the aim for consensus on future management for sustainability of economic, environmental and social aspects. There needs to be a ‘vision for the fishery’ that is endorsed by stakeholders and resource sharing options should align with this vision.