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The Second Meeting of the Parties to the PSMA has concluded today in Santiago, Chile, with a clear way forward set by the Parties with regards to the rules under which further such meetings should be conducted, the funding mechanisms to assist developing States in the implementation of the Agreement, and the mechanism for review and assessment of the effectiveness of the Agreement.

The rules under which meetings of the Parties will be conducted, or the “Rules of Procedure”, lay down provisions for, among others, ensuring an equitable geographical distribution and rotation of the Chairperson and numerous Vice-Chairperson positions, the timeline and process for the organisation of meetings and drafting of agendas and documents for meetings, and relevant decision-making processes. 

Parties to the PSMA also approved a terms of reference for funding mechanisms to assist developing States in the implementation of the Agreement.

The agreed terms of reference establish an assistance fund, to which developing States Parties can apply to access in order to get much-needed support for their implementation of the Agreement.

Finally, Parties also agreed on a specific questionnaire, which aims to act as an informative tool for Parties to review and assess the effectiveness of the Agreement in achieving its objective.

The questionnaire will inform the discussions at the next meeting of the Parties, which will also be the first opportunity for the Parties to review the Agreement, planned to take place in the European Union in late 2020.

All documents of the meeting are available here.