Tokelau has agreed to join the Parties to the Nauru Agreement's purse seine fishing vessel day scheme.
The scheme is used to manage the world's largest tuna fishery, in the Western and Central Pacific Ocean.
Introduced in 2007, it has more than doubled the price of a daily license for a foreign vessel to fish in a PNA member's waters to 5,000 US dollars.
The PNA says its eight member countries - the Federated States of Micronesia, Kiribati, Marshal Islands, Nauru, Papua New Guinea, Palau, Solomon Islands and Tuvalu - are expected to earn increased revenue from the scheme in the next few years.
The Ulu of Tokelau, Faipule Kerisiano Kalolo, who signed the agreement with the PNA, says Tokelau doesn't have the resources to develop its own large scale catch, processing and marketing sectors.
He says joining the scheme will help maximise economic benefits to Tokelau from the sustainable use of its EEZ.