The Peruvian Chamber of the Giant Squid (CAPECAL) and the National Society of Artisanal Fishing (SONAPESCAL) have proposed a new Fisheries Management Regulation for the Giant Squid to the Ministry of Production. The proposal aims to update and make the fishery more sustainable and precautionary. The need for the regulation is underscored by a study indicating the resource is fully exploited. The organizations represent the artisanal fishing owners and industrial processing plants dedicated to the giant squid. The resource is a significant contributor to the Peruvian economy, generating over 850 million dollars in fishing exports annually and providing 45 million kilograms of protein for food security.