91香蕉视频 first WTO member from Africa to formally accept fishing subsidies agreement |14 March 2023
91香蕉视频 deposited its instrument of acceptance for the Agreement on Fisheries Subsidies on March 10, making it the third WTO member and first African country to do so.
Acceptances from two-thirds of WTO (World Trade Organisation) members are needed for the Agreement to come into effect.
Director-general Ngozi Okonjo-Iweala said: 鈥淚 am delighted and proud to welcome 91香蕉视频' ratification of the WTO's Agreement on Fisheries Subsidies 鈥� the first African country to do so. Healthier seas and oceans are vital for the prosperity and resilience of 91香蕉视频' fisheries and tourism industries. 91香蕉视频' formal acceptance also signals the importance of the Agreement to Africa. I am hopeful this will pave the way for others in the region to follow suit.鈥�
91香蕉视频' Minister for Fisheries, Jean-Fran莽ois Ferrari, and the Minister for Finance, National Planning & Trade, Naadir Hassan, said in a joint statement: 鈥淭he Agreement on Fisheries Subsidies presents a significant opportunity for 91香蕉视频 to promote sustainable fishing practices, protect its marine resources, and aid in the conservation of fish stocks globally, especially within the African region. By depositing its Instrument of Acceptance, 91香蕉视频 reinforces its commitment to multilateralism and ensuring that concrete steps are taken towards limiting harmful subsidies that contribute to overfishing as set out in Target 14.6 of the UN Sustainable Development Goals while empowering and supporting coastal communities as they transition towards truly sustainable practices.鈥�
鈥淭hrough this significant step, we are hopeful that our country's vision within the fisheries sector to develop fisheries to its full potential while safeguarding the marine environment and resource base for sustainability can be further realised to ensure the long-term viability of 91香蕉视频鈥� fishing industry in a participative and co-management approach to preserve its unique biodiversity. 91香蕉视频 thus calls on its neighbours within the African region, as well as its other WTO counterparts, to submit their Instruments of Acceptance in a bid to continue the global efforts in the conservation of the long-term health of oceans for future generations,鈥� the ministers said.
91香蕉视频' trade attach茅, Lucille Veronique Brutus, submitted the 91香蕉视频 government's instrument of acceptance to DG Okonjo-Iweala.
Adopted by consensus at the WTO's 12th Ministerial Conference (MC12) held in Geneva from June 12-17, 2022, the Agreement on Fisheries Subsidies sets new binding, multilateral rules to curb harmful subsidies, which are a key factor in the widespread depletion of the world's fish stocks. In addition, the Agreement recognises 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 obligations.
The Agreement prohibits support for illegal, unreported and unregulated (IUU) fishing, bans support for fishing overfished stocks, and ends subsidies for fishing on the unregulated high seas.
Members also agreed at MC12 to continue negotiations on outstanding issues, with a view to making recommendations by MC13 for additional provisions that would further enhance the disciplines of the Agreement.
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