The Yukon - Northwest Territories Transboundary Water Management Agreement was completed in 2002. This is the first Bilateral Agreement completed under the Mackenzie River BasinTransboundary Waters Master Agreement.

The purpose of the Yukon-Northwest Territories Transboundary Water Management Agreement is to cooperatively manage, protect, and conserve the ecological integrity of aquatic ecosystem of the Mackenzie River Basin common to the Yukon and the Northwest Territories while facilitating the sustainable use of transboundary waters.

• To develop and implement ecosystem objectives to protect the ecological integrity of aquatic ecosystems in the Peel River Watershed and other water resources common to the Yukon and Northwest Territories;
• To assure that transboundary waters are safe to drink and the aquatic species taken from those waters are safe to eat;
• Work towards prevention, control, and minimizing point and non-point sources of persistent toxic substances;
• To prohibit water transfer in or out of the shared portion of the Mackenzie River Basin that could affect the ecological integrity of the aquatic resources;
• To provide opportunities for participation in development planning processes by jurisdictions whose water resources may be affected by human activity;
• To foster scientific research and the use of traditional knowledge on water issues common to the Yukon and Northwest Territories;
• To identify the implications of potential developments to the aquatic ecosystem and to take corrective action as necessary; and
• To provide information to the public, and in particular subsistence users, and to promote consultation processes.

Under this agreement, the Yukon and Northwest Territories committed to the protection, enhancement, conservation, and wise use of the water resources to maintain the ecological integrity of the transboundary waters, in accordance with the principles established in the MackenzieRiver BasinTransboundary Waters Master Agreement.