Multinational corporations, nation-states and ocean resource management: The impact of a 200-mile economic zone

The extension of coastal state jurisdiction to 200-nautical miles would lead to a unique situation in the ownership of ocean resources, viz. 15 coastal states would receive among them approximately 42 percent of the world´s 200-mile economic zone area. At least 8 of these countries are less-developed coastal states (LDCS) which lack the key factors, capital, technology and managerial skill, necessary to tap these resources. As a result, the reliance of the LDCS on marine multinational corporations will markedly increase since a significant part of marine technology exists in the private sector. Concurrently, a dramatic rise in the control of coastal states over MNCs engaged in ocean resource development will occur. Thus, under the new regime of ocean resource management, the relationship between MNCs and nation-states is likely to be one of constructive partnership in development, rather than one of conflict and discord.