Dr Ngozi Okonjo-Iweala, WTO Director-General, and Ambassador Santiago Wills of Colombia, chair of the fisheries subsidies negotiations, today, June 8, 2021 called on WTO members to deliver a long-awaited agreement to curb funding for harmful fishing. They stressed that the opportunity to find compromise solutions at the July 15 ministerial meeting must not be squandered.

Speaking at an even to mark World Ocean Day which falls on June 8, the WTO Boss underscored the significance of WTO rules on fishing subsidies. According to her, proper application of such rules will help safeguard the global fish stock.

“WTO rules on fishing subsidies will help to prevent the collapse of global fish stocks. We need these rules for the sake of the environment, food security and livelihoods worldwide. It’s time to turn the tide in favour of ocean health and a globally sustainable blue economy.

“Two decades is too long for ending subsidies that finance the relentless overexploitation of our ocean. Governments need to deliver a WTO fisheries subsidies agreement now. Members have made real progress but we’re not there yet. Next month, trade ministers from around the world will meet virtually to look at these negotiations. We must seize this opportunity to narrow the remaining gaps”.

July 15 ministerial meetings

In May 2021,Ambassador Wills introduced a new draft text in preparation for the virtual meeting of ministers slated for July 15, 2021. Speaking at the event today, he highlighted the significance of the draft text in the implementation of the agreement.

“It will take hard decisions from 164 members, but it is doable. We now have a complete negotiating text in front of us to help close the gaps”.

Also, Ambassador Wills indicated that the latest text proposes landing zones for an agreement based on members’ collective work. WTO members are holding continuous meetings since the new text was circulated. These meetings focus on different configurations, dedicated to a specific theme each week.

Meanwhile, Ambassador Wills underscored the need to protect the fish stock in the ocean to prevent depletion of the fishes.

“Members are working hard getting the text as close as possible to a draft on which ministers can make the remaining political calls. With the finish line so close at hand, I trust members will rise to the occasion and together make a difference. The ocean is calling, and we must not let her down”.

Discussions on fisheries subsidies

The WTO first launched its discussionson fisheries subsidies in 2001. These discussions were given new impetus in 2015 when the international community made concluding a WTO agreement a target of the UN Sustainable Development Goals. As a result, the WTO’s 11^th Ministerial Conference in Buenos Aires in 2017 reiterated the call for a fisheries subsidies agreement. Under these mandates, members are working to secure an agreement on disciplines to eliminate subsidies for illegal, as well as unreported and unregulated fishing.

Also, members are working to prohibit certain forms of fisheries subsidies that contribute to overcapacity and overfishing. An integral part of the negotiations relies on special and differential treatment.