FILE - In this May 17, 2013 file photo, a flamingo walks along the beach on Necker Island in the British Virgin Islands. The British Virgin Islands is setting up a sanctuary for all shark species in its territorial waters to protect the imperiled marine predators whose global numbers have been rapidly dwindling. Necker Island is the home of Richard Branson, the British tycoon and adventurer who has been pushing Caribbean governments to better protect its marine environments. (AP Photo/Todd Vansickle, File)The Associated Press

KINGSTON, Jamaica The British Virgin Islands declared its territorial waters a sanctuary for all shark species Thursday to help protect the marine predators whose global numbers have been dramatically dwindling.

Kedrick Pickering, deputy premier and minister for natural resources, said the loss of sharks disrupts the predator-prey balance, compromising the health of oceans and reefs and the survival of other marine creatures.

"The best way to manage their populations is to let them fulfill their ecological role as apex predators," Pickering said at a conference in Belgium.

The Cabinet of the British Caribbean archipelago of roughly 60 small islands, cays and islets banned commercial fishing of all shark species in the 30,933 square miles (80,117 square kilometers) of its exclusive economic zone.

Shark fishing has grown rapidly in recent decades, driven by rising demand, mainly in China, for shark fin soup. Because of their long life spans and low fertility rates, sharks are highly vulnerable to overfishing. Experts say roughly 100 million sharks are killed each year in commercial fisheries around the globe.

It's far from clear how robustly the tourism-dependent British territory will police its waters, which are home to coral reefs where divers can spot such shark species as scalloped hammerheads, oceanic whitetips and reef sharks.

The territory of about 25,000 people said it is also protecting rays, whose numbers have sharply dwindled over the years. Researchers with the International Union for the Conservation of Nature have said roughly one-quarter of the world's sharks and rays are threatened with extinction.

The sanctuary announcement was applauded by the territory's most famous resident, British tycoon and adventurer Richard Branson.

Branson, CEO and founder of the Virgin Group of companies, has been pushing Caribbean governments to better protect marine environments, making special mention of sharks and rays. At a conference Branson hosted on his private island last year, several regional governments committed to establishing shark protections by May 2015.

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British Virgin Islands establishing sanctuary for all shark species in its territorial waters