WTO Agreement on Fisheries Subsidies

  • Switzerland became the first WTO member to formally submit its acceptance of the WTO’s new Agreement on Fisheries Subsidies.
  • The agreement was adopted by consensus at the WTO’s 12th Ministerial Conference.
  • It sets new binding, multilateral rules to curb harmful subsidies, which are a key factor in the widespread depletion of the world’s fish stocks.
  • It also recognizes the needs of developing and least-developed countries (LDCs) and establishes a Fund to provide technical assistance and capacity building to help them implement the Agreement.
  • It prohibits subsidies to illegal, unreported and unregulated (IUU) fishing, and bans subsidies for fishing overfished ....
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