World Trade Organization Agreement on Fisheries Subsidies

Abstract

After great anticipation, at the 12th Ministerial Conference in June 2022, Members of the World Trade Organization (WTO) reached a historic Agreement on Fisheries Subsidies that aims to contribute to the United Nations Sustainable Development Goals. This article first provides the necessary background of the two decades building up to the conclusion of the Agreement. After a general overview of the Agreement, we then examine key provisions of the Agreement, namely the prohibition of subsidies to 1) illegal, unreported and unregulated fishing; 2) the fishing of overexploited stocks, and 3) fisheries on the high seas outwith the competence of regional fisheries management organisations. We also pay attention to the provisions on special and differential treatment in favour of developing and least developed countries, as well as notable procedural and institutional features. We conclude by highlighting the remaining issues still to be addressed at the WTO.

Keywords: fisheries subsidies, World Trade Organization, IUU fishing, Sustainable Development Goals