The rationale leading to the development of the mid-term strategy as well as its targets and objectives are presented, together with the progress achieved and the challenges and opportunities faced during the first phase of implementation. In particular, the role of the GFCM has been crucial in promoting common rules and strengthening regional cooperation in the Mediterranean and the Black Sea. However, fisheries in the region still face serious challenges: around 80 percent of scientifically assessed stocks in the region are considered to be fished outside safe biological limits (see Chapter 4).