Tokelau has opened up its fishing waters to several Pacific island states.
The territory last week signed an agreement with regional fishing grouping the Parties to the Nauru Agreement (PNA) during a meeting in Palau.
The deal will allow licensed vessels from the six other signatories to fish in Tokelau's exclusive economic zone (EEZ).
PNA chief executive Ludwig Komoru said it was a "win-win" for Tokelau and the other countries.
Under the memorandum of understanding, Tokelau can participate in PNA meetings relating to the fishing sharing agreement but does not have voting rights.
Tokelau, which has an EEZ covering nearly 319,000 square kilometres, does not have a commercial fishing fleet, and revenue from fishing licenses granted to other countries accounts for almost all of its income.
In December, a report from Australian researchers warned Tokelau was heading for a resource crisis and should restrict the expansion of industrial fishing.