The United States and New Zealand have set aside their differences and reached a compromise to advance a joint proposal for the world's largest marine protected area in the Ross Sea.
They have agreed to a proposal covering 2.27 million square kilometres that will allow fishing in certain areas rather than banning it altogether.
In September the Government rejected a US proposal for a marine reserve that would have offered greater protection than New Zealand wanted for the Antarctic toothfish in the Ross Sea.
New Zealand companies take a large proportion of the annual Ross Sea toothfish catch - last year they landed 730 tonnes with an export value of $20 million.
New Zealand's negotiator Carolyn Schwalger said the accord would not reduce New Zealand's $20 million a year toothfish harvest.