The Twenty-ninth Session of the Committee for Fisheries agreed that FAO should initiate work to develop international best practice guidelines for traceability of fish and fishery products. The best practice guidelines would facilitate the coherence of different traceability systems. The Sub-Committee, with the assistance of a group of Friends of the Chair, agreed to the following terms of reference for future work to be carried out in relation to the consideration and development of best practice guidelines for traceability: • Invite the FAO Secretariat to compile and analyse best practices and existing standards for a range of traceability purposes, including a gap analysis. • Identify options for future work including possible instruments. The paper explains the context of traceability more fully and identifies current systems and standards to avoid duplication for the future work. The following principles for traceability schemes provide the framework for the analysis: • Not create unnecessary barriers to trade; • Equivalence; • Risk based; • Reliable, simple, clear and transparent.