EU welcomes entry into force of WTO Agreement on Fisheries Subsidies

The European Union welcomes the long-awaited entry into force of the World Trade Organization’s (WTO) Agreement on Fisheries Subsidies, a major milestone after two decades of intense multilateral negotiations. This represents a significant step forward in the global effort to protect the world’s ocean, as it aims to eliminate harmful fisheries subsidies, ultimately contributing to a more resilient and thriving ocean for future generations.

Through binding and enforceable provisions, this landmark agreement is expected to significantly reduce overfishing, ensure sustainable fisheries and promote better practices for coastal communities worldwide. This is also among the key priorities of the European Ocean Pact, which outlines the EU’s commitment to protecting the ocean.

The entry into force also activates the WTO Fish Fund, which aims to assist developing and least developed countries with implementing the agreement, improving sustainability, and benefiting fishing communities worldwide. The EU and its Member States are the majority contributors to this important fund.

In line with the UN Sustainable Development Goal 14.6, which mandates the WTO to prohibit harmful fisheries subsidies, the Agreement includes a prohibition of subsidies contributing to illegal, unregulated and unreported (IUU) fishing, combined with unprecedented transparency provisions. Additionally, it prohibits all subsidies for fishing on the unregulated high seas, which are the most vulnerable areas of the ocean as they lack any established and coordinated regime to manage fishing. An additional provision will deliver sustainability rules for subsidies affecting the most vulnerable overfished stocks, ultimately promoting a more sustainable approach to fisheries management.

The EU remains committed to further tackling harmful fisheries subsidies globally with the negotiation of additional provisions to complement this first phase agreement.

Next steps

With the agreement now in force, WTO Members will have to transpose these new multilateral rules in their internal fisheries subsidies framework.

To monitor implementation, WTO Members have to provide a range of detailed notifications that will be reviewed by the new WTO Committee on Fisheries Subsidies, also created by the agreement.

While 111 WTO Members accepted the agreement’s rules kicking intoday, the EU calls on the remaining WTO Members, especially big fishing nations, to accept the agreement soon, to ensure even wider benefits.

Background

The WTO Agreement on Fisheries Subsidies, the first multilateral trade agreement focusing on sustainability, was concluded at the 12^th WTO Ministerial Conference (MC12) in June 2022 and includes:

• a prohibition of government subsidies to illegal, unregulated and unreported fishing;
• a prohibition of subsidies for fishing on the unregulated high seas;
• a prohibition of subsidies regarding the most vulnerable stocks;
• provisions addressing the harmful practice of reflagging fishing vessels to other jurisdictions; and
• extensive transparency and notification provisions to monitor the implementation of the Agreement.

The EU was a key participant in the negotiations and spearheaded the efforts towards its conclusion. Following its early acceptance of the deal in June 2023, the EU actively encouraged other WTO Members to accept the deal without delay.

More information: European Commission