The volume of fisheries production in the Pacific region7 is around 1.7 million tonnes, with an estimated value of US$3.6 billion dollars, 75 per cent of which is accounted for by Commonwealth Pacific small states (Table 5.1). The larger proportion is accounted for by offshore tuna fisheries, mainly by foreign-based vessels,8 particularly in Kiribati and PNG. However, the importance of coastal fisheries should not be underestimated.