Many of the marine resources in the Caribbean are considered to be fully or overexploited. A Transboundary Diagnostic Analysis identified three priority transboundary problems that affect the CLME: unsustainable exploitation of fish and other living resources, the degradation and modification of natural habitats, pollution and contamination. The fourwing flyingfish fishery is the single most important small pelagic fishery in the southern Lesser Antilles. It is a shared resource, which has been traditionally exploited by seven different States, i.e. Barbados, Dominica, Grenada, Martinique, Saint Lucia, Saint Vincent and the Grenadines and Trinidad and Tobago. With expanding fleet capacity and limited cooperation among the States exploiting the flyingfish, there is concern that the resource may become overfished. While the flyingfish fishery is a directed fishery, it is at the same time part of a multi-species, multi-gear fishery, which also targets regional large pelagic species. This case study identifies and analyses the priority transboundary problems and issues. The policy, legal and institutional reforms needed to address such transboundary issues and achieve long-term conservation and sustainable use of the resources are also identified. A major and necessary component of the case study is an evaluation of the existing policy cycles and linkages among the countries and institutions involved with the flyingfish fishery.