Palau is moving forward with plans to ban all foreign commercial fishing in its exclusive economic zone.
Palau President Tommy Remengesau Junior on Friday created a Marine Sanctuary Study Group tasked to determine the overall economic impact of imposing a ban on commercial fishing.
The group will also explore options that could help offset economic loss caused by the ban.
The President says Palau does not receive sufficient compensation from tuna sales, considering its high and increasing value in the market.
President Remengesau explained the ban would make Palau a large marine sanctuary and his administration's vision is for an area that is so well protected that Palau will become the world's largest marine sanctuary.
The President says the study undertaken by the Group is needed to ensure that the ban can be done in an enforceable, effective and economically viable way.