The Honourable Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development, announced today that Canada has formally accepted the WTO Agreement on Fisheries Subsidies.
At the WTO's 12th Ministerial Conference (MC12), held in June 2022, members adopted the WTO Agreement on Fisheries Subsidies, which aims to ensure sustainable global fisheries by establishing new multilateral trade rules on harmful fisheries subsidies, such as those related to illegal, unreported and unregulated fishing. It is the second multilateral agreement, and first environmental agreement, to be negotiated at the WTO since its inception.
Canada is the fifth WTO member to deposit its instrument of acceptance for the WTO Agreement on Fisheries Subsidies. The agreement will enter into force once two thirds of WTO members have accepted it.
