2023-04-18 09:33:39
On April 11, the United States deposited its instrument of acceptance of the Fisheries Subsidies Agreement, becoming the fourth member of the WTO, and the first large-scale fishing nation, to TO DO. A new commitment which should contribute to the strengthening of multilateralism according to the DG/WTO, Ngozi Okondjo-Iweala.
Adopted at the twelfth Ministerial Conference (MC12) on June 17, 2022, the Fisheries Subsidies Agreement has just been signed by the United States of America (USA). Putting a point of honor on the sustainability of the oceans by prohibiting harmful fishing subsidies, a key factor in the general depletion of fish stocks in the world, this agreement thus accepted by the USA, constitutes, according to Ngozi Okondjo -Iweala, a pivotal moment for the forthcoming entry into force of this historic agreement. This, even though two-thirds of the WTO Members must accept the Agreement for it to enter into force. “I am delighted and grateful to receive formal US acceptance of the WTO Fisheries Subsidies Agreement. This signal sign of support from the United States for the work that the WTO is undertaking on the path to ocean sustainability is a decisive boost to the momentum among Members to ensure that this historic agreement enters into force. The leading role of the United States is indispensable to the WTO and to multilateralism. I look forward to continuing this collaboration with the United States to ensure that the WTO meets the needs of people and the planet. “, she will declare when receiving the instrument from the hands of the representative of the United States for international trade issues, Ambassador Katherine Tai, in Washington. For his part, the United States’ Trade Envoy recalled that “the United States has been a leader in preventing harmful and unsustainable practices from harming the environment that is ours, including our oceans and marine resources and to those whose livelihoods depend on this heritage”. She did not fail to reiterate the USA’s commitment to the success of the Organization’s reforms. “We are honored to be among the first WTO Members to accept this agreement, which is the first multilateral trade agreement focused on environmental sustainability. It will help us improve the lives of fishers and workers here in the United States and elsewhere, and we look forward to expanding the scope of this agreement with other WTO Members,” said the Ambassador, Katherine Tai.
What to remember from the Agreement?
Adopted by consensus at the twelfth WTO Ministerial Conference (MC12) held in Geneva from 12 to 17 June 2022, the Fisheries Subsidies Agreement establishes new binding multilateral rules aimed at reducing harmful subsidies , a key factor in the general depletion of fish stocks around the world. In addition, it recognizes the needs of developing and least-developed countries (LDCs) and establishes a Fund for the provision of technical assistance and capacity-building activities to help these countries meet the obligations. The Agreement prohibits support for illegal, unreported and unregulated (IUU) fishing, prohibits support for fishing overfished stocks and ends subsidies for unregulated high seas fishing. At CM12, Members also agreed to continue negotiations on outstanding issues, with a view to making recommendations by CM13 on additional provisions that would further improve the disciplines of the Agreement.
S.T.
162 Total Views, 162 Views Today
#Fisheries #Subsidies #Agreement