Article 1
Open ↗The position to be taken on the Union’s behalf at the final meeting of the preparatory commission and the first meeting of the Conference of the Parties to the Agreement under the United Nations Convention on the Law of the Sea on the conservation and sustainable use of marine biological diversity of areas beyond national jurisdiction (the ‘Agreement’) shall be the following: (1) the Union shall support the adoption of rules of procedure that provide for the efficient, cost effective, transparent and orderly functioning and organisation of meetings of the Conference of the Parties to the Agreement, and that allow for the full participation of the Union as a Party in accordance with the Agreement; (2) the Union shall support the adoption of financial rules and the operationalisation of a financial mechanism that establish a fair and transparent process which is responsive to the circumstances of each Party to the Agreement, with a view to ensuring that each Party contributes to the financial sustainability of the Agreement and its implementation in a manner that is equitable and consistent with each Party’s ability to contribute, and which also ensures the provision of assistance to developing States Parties in their efforts to implement the Agreement.