GENEVA (AN) — The World Trade Organization has officially implemented a landmark agreement to curb harmful fisheries subsidies, ending more than two decades of complex negotiations.
The accord, which entered into force on Monday, commits members to ending government support estimated at $22 billion annually that contributes to the depletion of marine fish stocks.
The WTO Agreement on Fisheries Subsidies marks the first multilateral trade agreement with environmental sustainability at its core.
Director-General Ngozi Okonjo-Iweala hailed it as a powerful signal that the rules-based international trading system – and multilateralism – can still deliver solutions to global challenges.
"In the face of disruptions in global trade and ongoing geopolitical tensions, we have come together to deliver something truly meaningful," she said. "This achievement is not only for the planet and our oceans, but for people everywhere. It is especially for the younger generations."
The agreement, known as "Fish 1," directly prohibits subsidies that contribute to illegal, unreported, and unregulated fishing. It also bans support for fishing overfished stocks and for operations in unregulated high seas areas. According to data from 2021, 35.5% of global fish stocks were overfished, a significant increase from 10% in 1974.
The accord's entry into force was triggered by a two-thirds majority of member ratifications, with the final instruments of acceptance received from nations including Brazil, Kenya, and Vietnam. The agreement also includes robust transparency requirements and establishes a dedicated WTO committee to review members' compliance.
While celebrated as a major step, the current agreement is considered incomplete. The most challenging issues — subsidies that promote overcapacity and overfishing — are still under negotiation in a second phase, known as "Fish 2."
The current pact contains an expiration clause, meaning it will terminate in four years if a comprehensive agreement is not reached on the remaining subsidy issues.
To assist with implementation, the WTO has established a Fish Fund, a voluntary mechanism with over $18 million in pledges.
The fund is designed to provide technical and financial assistance to developing economies and least-developed countries, helping them comply with the new rules.
The Food and Agriculture Organization supports the new agreement, calling it a crucial complement to existing efforts to prevent illegally caught fish from entering ports.
The new WTO agreement also aims to stop the flow of government money that fuels illegal and unsustainable fishing in the first place.
