WTO fishing subsidies deal takes effect

The World Trade Organization's agreement on fisheries subsidies — its first environmentally focused accord — entered into force yesterday after years of thorny negotiations at a time of heightened international trade tensions.

- AGNÈS PEDRERO

Agreed by more than 100 WTO members, including the United States, the European Union and China, the agreement sets binding rules requiring governments to consider the legality and sustainability of the fishing activities they subsidise.

The discussions towards the deal began in 2001, with WTO members finally reaching an agreement by consensus in June 2022.

Below are the main points of the agreement, which was celebrated with a ceremony at the WTO's Geneva headquarters yesterday after being ratified by two-thirds of the membership.

Broader rules regarding subsidies for activities that contribute to overcapacity and overfishing remain under negotiation.

BANS

The deal bans subsidies to any vessel or operator engaged in illegal, unreported and unregulated (IUU) fishing, or the fishing of overexploited stocks.