Joint Development Zones and other Cooperative Management Efforts Related to Transboundary Maritime Resources: A Caribbean and Latin American Model for Peaceful Resolution of Maritime Boundary Disputes

When evaluating new trends that have emerged since the conclusion of the Geneva Conventions on the Law of the Sea in 1958, it is apparent that the use and acceptance by states of joint development or cooperative management agreements has increased dramatically during the last fifty years. More significantly, these agreements, related with the exploration, management and exploitation of common maritime natural resources, have become an effective mechanism for achieving peaceful resolution of maritime boundary disputes. As a result, joint development or cooperative management strategies have become a common component of modern maritime boundary delimitation treaties. Moreover, this study will show that Caribbean and Latin American States are in the forefront of this new trend.