Trade Ministers Tim Groser of New Zealand and Dr Craig Emerson of Australia joined officials from a diverse group of countries at the Eighth Ministerial Conference of the World Trade Organisation (WTO) to release a statement reaffirming the need for and their commitment to establishing strong trade rules on subsidies that lead to overfishing. The other countries included Argentina, Chile, Colombia, Ecuador, Norway, Peru and the US.
The WTO is the 153-country organisation responsible for negotiating the rules governing international trade and settling related disputes. In 2001, the WTO initiated a dedicated negotiation on fisheries subsidies as part of its Doha trade agenda and continues to work to address the issue today.
According to the UN Food and Agriculture Organization (FAO), 85 per cent of the world’s fisheries are fully exploited, overexploited, depleted, or recovering from depletion– the highest percentage since FAO began keeping records, and a 10 per cent increase from four years ago.
Many governments continue to provide significant subsidies that push their fleets to fish longer, harder and farther away than otherwise would be possible. Destructive fisheries subsidies are estimated to be at least USD 16 billion annually, an amount equivalent to approximately 20 per cent of the value of the world catch.
Read the complete story from Fish Information & Services