KINGSTOWN, St. Vincent, CMC – The St. Vincent and the Grenadines government says it has taken an important step towards strengthening the sustainable management of the fisheries sector and advancing its Blue Economy agenda with the signing of the World Trade Organization (WTO) Fisheries Subsidies Agreement.
A government statement said that Foreign Affairs, Foreign Trade, Foreign Investment, and Diaspora Affairs Minister Dwight Fitzgerald Bramble signed and deposited the instrument of acceptance last week during the 14th Ministerial Conference of the WTO in Brussels.
It said the Fisheries Subsidies Agreement represents a landmark achievement in global trade and environmental policy. It seeks to curb harmful fisheries subsidies that contribute to overfishing, overcapacity, and illegal, unreported, and unregulated (IUU) fishing, while promoting sustainable fishing practices among WTO member states.
“For St. Vincent and the Grenadines, the Agreement supports the continued development of the country’s Blue Economy, recognizing the critical role of marine resources in economic growth, environmental stewardship, and national food security.
“The fisheries sector remains an important contributor to livelihoods and economic activity across the nation,” the statement said.
It said, importantly, that the Agreement includes provisions for special and differential treatment for developing countries, ensuring that small island developing states (SIDS) such as St Vincent and the Grenadines can implement their commitments in a manner consistent with national development priorities.
The Agreement also provides access to technical assistance and capacity-building support to strengthen fisheries management and monitoring systems.
Bramble was quoted in the statement as saying that the Agreement presents a valuable opportunity to enhance further the resilience, sustainability, and long-term viability of the fisheries sector while protecting the marine resources upon which Vincentians depend.
“The Government of St. Vincent and the Grenadines remains committed to active engagement in the multilateral trading system, working with international partners to promote policies that support sustainable development, economic resilience, and responsible stewardship of the country’s ocean resources,” said the statement.
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