This article provides a general overview of the development of the tuna fisheries within the Federated States of Micronesia (FSM) waters encompassed by its 200 nautical mile Exclusive Economic Zone (EEZ) as designated under the United Nations Convention on the Law of the Sea (UNCLOS). The founding fathers recognized that FSM’s marine resources are part of the nation's heritage and as such it needs to be sustained for the future generations. As a small island state with limited land-based resources, the sea provides the primary means for the development of an economic base for the young nation. Conservation and development of the pelagic resources are inseparable and must be monitored with great caution to maximize benefits at a sustainable level. This has been done through selling of access fees, and direct participation in the exploitation of the tuna resource. The three principle means of harvesting the fisheries in FSM's EEZ are purse seine, longline, and pole and line. Ensuring a viable fishery into the future requires a detailed examination of resource interaction, as well as plotting the distribution of species spatially and seasonally, and ultimately deciding upon the best means of developing an industry emphasizing on the domestic fleets rather than those of Distant Water Fishing Nations (DWFN). A synopsis of historical DWFN access fees collected from fishing operations in the waters should be reviewed to ascertain how much such fees contribute to government operations. And finally, it is vital to examine the logic and assumptions underlying FSM's fisheries policies and their respective results in relation to the management and development of the vast pelagic resources.