After two years of negotiations, representatives of the United States and twelve Pacific island states signed a five–year regional fisheries treaty that sets forth conditions on U.S. fishing in the region and will guarantee U.S. purchases of at least $1.75 million worth of fishing licenses annually. At the same time, the U.S. fishing industry will provide $250,000 in annual technical assistance to help the island states develop their own fishing industries. The treaty will enter into force after ratification by the United States and ten of the Pacific signatory states. Parties taking part in the negotiations but which have not yet signed the treaty include Niue, Palau, Tonga and Vanuatu.