The purpose of this Agreement is to promote effective conser vation and rational management of fisheries off the United States Coast, to facilitate the rapid development of the United States Fishing Industry and to establish common understanding of the principles and procedures under which fishing by nationals of Latvia of living resources over which the US has sovereign rights may be conducted (art. I). Total allowable catch and the allocation of a fishing quota shall be determined by the US each year (art. III). Factors in the determination of such a qu ota are outlined in article IV. Latvia shall ensure that its nationals comply with provisions of this Agreement. Applications for fishing permits made by Latvia on behalf of its nationals shall be prepared and processed in accordance with the Annex (art.VI to IX). Fishing vessels of the United States shall be allowed to fish in waters of Latvia on terms not more restrictive than those established in accordance with this Agreement (art. XV). The Annex contains procedures for the application for fishing permits and the granting of permits. (18 articles); FAO Descriptors: 110; 105; 020; 004; 005
