WTO fisheries subsidies agreement enters into force after two decades of talks

The World Trade Organization (WTO) Agreement on Fisheries Subsidies entered into force today after nearly two decades of negotiations. The agreement, known as “Fish 1,” prohibits subsidies tied to the fishing of overfished stocks unless measures are in place to rebuild them, illegal, unreported and unregulated (IUU) fishing, and unregulated high seas fishing.  

The accord became legally binding once ratified by two-thirds of WTO members, amounting to 111 countries.  

Tom Pickerell, Global Director of World Resources Institute’s Ocean Program, said: “In a year of tough geopolitics, this is a landmark achievement that shows countries are still committed to coming together to restore the ocean’s health. Coastal communities worldwide will benefit.”  He added that the agreement is “a critical step toward curbing the government incentives that drive the overexploitation of fish stocks” and that harmful subsidies “make it profitable to continue fishing even when stocks are declining and have been linked to unsustainable and, in some cases, extreme practices such as illegal, unreported, and unregulated (IUU) fishing.” Pickerell said such practices “undermine marine biodiversity, threaten food security, and jeopardize the livelihoods of coastal communities worldwide.”  

Pickerell also criticized the long negotiations, stating: “It should not have taken over 20 years of negotiation to agree to stop subsidising the destruction of fish stocks.”  Negotiations are continuing on the next stage, known as “Fish 2,” which is intended to expand the scope of the agreement by targeting capacity-enhancing subsidies that contribute to overfishing. Pickerell said this next step “must not take another two decades. Neither the declining marine environment nor the communities who depend on it can afford to wait.” 

World Trade Organization (WTO) is an intergovernmental organization established in 1995 that regulates international trade through a system of agreements and dispute resolution. It has 164 members representing the majority of the global economy and trade flows.