Rome/Geneva - The Food and Agriculture Organization of the United Nations (FAO) welcomes the entry into force of the World Trade Organization (WTO) Agreement on Fisheries Subsidies, which aims to phase out harmful fisheries subsidies and enhance the sustainability of marine resources.
"This agreement is very positive for the sustainability of fisheries resources, which we all depend on. FAO looks forward to helping implement the agreement and achieve its potential," said Manuel Barange, FAO Assistant Director-General and head of its Fisheries and Aquaculture Division. "Fisheries provides food, improves nutrition and supports livelihoods, and the world cannot afford to subsidize practices that compromise the long-term benefits of the sector."
FAO has consistently provided policy support to WTO members and will collaborate in the operations of the WTO Fisheries Funding Mechanism, which will provide, among other measures, targeted technical assistance and capacity development to developing economies and least-developed countries.
The WTO Agreement on Fisheries Subsidies, for instance, prohibits subsidies that contribute to illegal, unregulated and unreported (IUU) fishing, impact overfished stocks, or are associated with fishing in the high seas where the resources are not under the management of regional management organizations.
The need to combat IUU fishing, which leads to natural resource losses and undermines the sustainability of fishery stocks, is widely recognized globally. This is the explicit aim of the Port State Measures Agreement (PSMA), an international binding FAO instrument designed to deter and eliminate IUU fishing, which entered into force in 2016 and currently includes 84 parties including the European Union on behalf of its 27 Members.
The WTO Agreement on Fisheries Subsidies will also generate a new momentum for regional fisheries bodies. According to Manuel Barange, increased collaboration at the regional level is essential to ensure the agreement achieves its objectives in relation to the sustainable exploitation of shared resources.
