<p>Despite their significant contribution, small-scale fishers find themselves marginalized, ignored, underrepresented, undervalued, and in disadvantaged positions. The vulnerabilities of small-scale fisheries are further intensified in the transboundary fishing systems due to mismatches in governing actions and priorities between neighbouring countries. This study argues that transitioning from a state of high vulnerability to a state of viability depends on how well the governing system addresses the complex social-ecological challenges. This study systematically assesses whether the existing governing system in the transboundary Sundarbans has the capacity and the quality required to facilitate such a transition for small-scale fisheries. To do so, we employ a governability assessment framework that examines the governance structure and how well it performs and responds to change. Data were collected using household surveys, key informant interviews, and focus group discussions on both the Bangladesh and Indian sides of the forest. The results reveal that the governing system lacks the proper capacity (e.g., structure, arrangements, and interactions) and quality (e.g., the effectiveness of the governing arrangements and the performance) to address the vulnerabilities and move toward viability. The governing system is entangled with a number of challenges, including differences in governance images, lack of coordination across institutions and jurisdictions, decentralization of power, and geopolitical disputes and debates. These challenges pose barriers, preventing the transition from vulnerability to viability for small-scale fisheries. The study suggests adopting joint governance actions and policies by Bangladesh and India for transboundary Sundarbans governance. The governing system should be strengthened with the participation of local fishing communities, counting on their knowledge and worldviews.</p>