The WTO Ambassador of Antigua and Barbuda Colin Murdoch deposited his country’s instrument of acceptance of the Agreement on Fisheries Subsidies with the WTO Director-General Ngozi Okonjo-Iweala on 3 April. Antigua and Barbuda is the 95th WTO member to do so.
DG Okonjo-Iweala said: “By depositing its instrument of acceptance, the government of Antigua and Barbuda is signalling its strong commitment to safeguarding marine resources and the livelihoods of its people. Our oceans’ resources are a vital component of many national economies, and we are grateful to Antigua and Barbuda for joining other WTO members in a collective effort to address this crucial global challenge. Only 16 more instruments are needed now for the Agreement to come into force!”
Hon E P Chet Greene, Minister of Foreign Affairs, Trade and Barbuda Affairs of Antigua and Barbuda said: “Antigua and Barbuda’s deposit of its instrument of acceptance of the WTO Agreement on Fisheries Subsidies reaffirms our nation’s commitment as a small island developing state to multilateralism and to the sustainable use of marine resources. It also demonstrates our unwavering support for the 2030 Sustainable Development Agenda and our recognition of the importance of the fisheries sector to food security, people’s livelihoods and resilience building.”
Formal acceptances from two-thirds of WTO members are required for the Agreement to enter into force. The instrument of acceptance from Antigua and Barbuda reduces to 16 the remaining acceptances needed.
By adopting the Agreement on Fisheries Subsidies by consensus at the WTO’s 12th Ministerial Conference in Geneva in 2022, ministers from WTO members set new, binding, multilateral rules to curb harmful fisheries subsidies. The Agreement prohibits subsidies for illegal, unreported and unregulated fishing, for fishing overfished stocks, and for fishing on the unregulated high seas.
The Agreement also recognizes the needs of developing economies and least-developed countries by establishing a fund to provide technical assistance and capacity-building to help them implement the new obligations, if they have formally accepted the Agreement.
In addition, members agreed at the 12th Ministerial Conference to continue negotiating on outstanding fisheries subsidies issues, with a view to adopting additional provisions to further strengthen the Agreement’s disciplines.
The Agreement is available here.
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