WTO: Agreement on Fisheries Subsidies adopted

The World Trade Organization (WTO) adopted the Agreement on Fisheries Subsidies, to be inserted in the Marrakesh Agreement Establishing the World Trade Organization via an amendment (see previous De Maribus report). The decision to adopt this agreement was reached on 17 June 2022 at the WTO Twelfth Ministerial Conference. The Agreement on Fisheries Subsidies includes rules prohibiting subsidies to illegal, unreported and unregulated (IUU) fishing (Article 3), to the fishing of overfished stocks (Article 4), and to fishing on the high seas outside the control of regional fisheries management organizations (Article 5). See the text of the agreement (reference WT/MIN(22)/W/22). Access the draft text and explanatory note here. Access the chair’s full statement here. See also the press release from the WTO on the “Geneva Package”.