[Source: Supplied]

Fiji deposited its instrument of acceptance of the Agreement on Fisheries Subsidies on Tuesday this week.

Fiji’s Envoy in Geneva, Ambassador Luke Daunivalu, presented Fiji’s instrument of acceptance to World Trade Organization Director-General Ngozi Okonjo-Iweala.

Ambassador Daunivalu says he is pleased that Fiji can finally deposit its instrument of acceptance of the WTO Agreement on Fisheries Subsidies.

Daunivalu says it’s a testament to Fiji’s commitment to disciplining subsidies for illegal, unreported, and unregulated (IUU) fishing.

DG Okonjo-Iweala says they are delighted that Fiji has presented its acceptance of the Agreement on Fisheries Subsidies.

This makes Fiji the first Pacific Island developing nation to do so, and we are confident it will not be the last.

She hopes this action will encourage not only the Pacific but also all other members that have not yet deposited to do so.

Fiji’s instrument of acceptance brings the total number of WTO members that have formally accepted the agreement to 52.

This is nearly half of what is needed for the agreement to come into effect (two-thirds of the WTO membership).

Adopted by consensus at the WTO’s 12th Ministerial Conference (MC12), held in Geneva on June 12–17, 2022, the Agreement on Fisheries Subsidies sets new, binding, multilateral rules to curb harmful subsidies, which are a key factor in the widespread depletion of the world’s fish stocks.

The Agreement recognizes the needs of developing and least-developed countries and 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 fishing overfished stocks, and ends subsidies for fishing on the unregulated high seas.

Members also agreed at MC12 to continue negotiations on outstanding issues, with a view to making 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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