GENEVA, CMC – The World Trade Organization (WTO) said seven member countries, including St. Lucia, Monday deposited their instruments of acceptance of the Agreement on Fisheries Subsidies, propelling the much-anticipated entry into force of the historic Agreement for ocean sustainability closer to realization.
A WTO statement said that high-level officials of Albania, Australia, Botswana, Cuba, Côte d’Ivoire, the Republic of Korea, and St. Lucia presented their instruments of acceptance to Director-General Ngozi Okonjo-Iweala in a ceremony as part of the two-day Senior Officials Meeting that ends here later on Tuesday.
“I take great pleasure in depositing, on behalf of St. Lucia, the instrument signifying its formal acceptance of the Agreement on Fisheries Subsidies adopted in June 2022 at MC12,” said St. Lucia’s High Commissioner and Permanent Representative to the WTO, Anthony Severin.
“This Agreement is full of promise for greater sustainability of global fish stocks through prohibiting harmful fish subsidies. As an island or ocean state, St. Lucia considers this to be in its best interest and has decided to acknowledge this publicly by depositing its Instrument of Ratification of the Agreement with the World Trade Organization,” he added.
The WTO said that the latest instruments of acceptance bring the total number of WTO members that have formally accepted the Agreement to 51 46 percent of what is needed for the Agreement to come into effect.
“Each formal acceptance of the Agreement on Fisheries Subsidies marks an important step towards its entry into force, which is so important for ocean health, the livelihoods and food security of millions of people, and the WTO,” said Okonjo-Iweala.
She said the ceremony, with instruments of acceptance from seven members cutting across a broad spectrum of geographical locations and development levels, represents a leap in the right direction.
With the latest acceptances, she said, “We are nearly halfway towards entry into force.
“I cannot thank you all enough for your efforts to bring your instruments here to the Senior Officials Meeting. This is a major boost at a decisive moment,” Okonjo-Iweala said, “let me also strongly request all WTO members that have not yet deposited instruments of acceptance to expedite your domestic processes and submit them as soon as possible.
“While we are about halfway there, we still have halfway to go, and the 13th Ministerial Conference is only four months away. I am very encouraged that many members today have announced that they are well along in their processes, and I look forward to receiving their instruments soon,” she said.
Adopted by consensus at the WTO’s 12th Ministerial Conference (MC12), held in Geneva on 12-17 June 2022, the Agreement on Fisheries Subsidies sets new, binding, multilateral rules to curb harmful subsidies, which are a critical factor in the widespread depletion of the world’s fish stocks.
In addition, the Agreement recognizes the needs of developing and least-developed country members. It establishes a fund to provide technical assistance and capacity building to help them implement the obligations.
The Agreement prohibits support for illegal, unreported, and unregulated (IUU) fishing, bans support for overfished stocks, and ends subsidies for fishing on the unregulated high seas.
Members also agreed at MC12 to continue negotiations on outstanding issues to make recommendations by MC13, to be held in February 2024 in Abu Dhabi, United Arab Emirates, for additional provisions that would further enhance the disciplines of the Agreement.
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