The United States on Tuesday formally accepted a World Trade Organisation (WTO) deal reached in June that bans fishing subsidies that could threaten global fish stocks, sources said.
For the agreement to enter into force, two-thirds of the 164 WTO Member States must have formally adopted it by depositing an “instrument of acceptance” with the Geneva-based organisation.
Washington is the first major world fishing state to take this step. Until now, only Singapore, Switzerland and the Seychelles had notified their formal acceptance of the agreement, which was reached after years of negotiations.
'Pivotal increase in momentum' towards entry into force
"This strong show of support by the United States for the WTO's work toward ocean sustainability marks a pivotal increase in momentum among the membership to ensure this landmark agreement enters into force," said WTO Director-General Ngozi Okonjo-Iweala.
After more than two decades of negotiations, an agreement was reached in June among WTO member countries to ban subsidies that encourage overfishing and threaten global fish stocks.
Concessions had to be made, however: the agreement bans government subsidies that contribute to overfishing of certain species, but not those that contribute to overfishing in general.
Additional clauses to be added at ministerial meeting next February
After the US formally accepted the agreement, US Trade Representative Katherine Tai said her country was proud to have approved the “first-ever multilateral trade agreement with environmental sustainability at its core.”
“It will help improve the lives of fishers and workers in the United States and elsewhere, and we look forward to building on this agreement with other WTO members,” she said in a statement.
WTO member states are continuing to negotiate on issues that were left open when the agreement was reached with the aim of adding additional clauses at the next WTO ministerial conference, to be held in February 2024 in the United Arab Emirates.
