June 30, 2022 — It has taken more than 20 years, but government representatives at the World Trade Organization (WTO) in Geneva have finally agreed on a deal to curb the harmful subsidies that are compromising fish populations and damaging the marine environment.
It is the first time the WTO’s 164 members have made a deal with “environmental sustainability at its heart,” said the WTO director-general, Ngozi Okonjo-Iweala, in her closing speech. “This is also about the livelihoods of the 260 million people who depend directly or indirectly on marine fisheries,” she added.
The agreement bans subsidies for vessels and operators engaged in illegal, unreported and unregulated (IUU) fishing, and puts curbs on funding that supports the exploitation of overfished stocks. It also prohibits subsidies for fishing on the high seas – areas beyond national waters – if operations fall outside the jurisdiction of a regional fisheries management organisation (RFMO).
Read the full story at The Maritime Executive