The Netherlands recently made good on its pledge of EUR 1 million (about $1.1 million) to the World Trade Organization’s (WTO) Fisheries Funding Mechanism as part of an effort to aid developing and least-developed countries in implementing the Agreement on Fisheries Subsidies.
“I extend my heartfelt appreciation to the Netherlands for its contribution to the WTO Fisheries Funding Mechanism,” Ngozi Okonjo-Iweala, director-general of the WTO said in a release put out by the organization.
Ambassador Paul Bekkers personally delivered the contribution to Okonjo-Iweala last week. The donation coincided with the one-year anniversary of the adoption of the Agreement on Fisheries Subsidies, a pact reached during the 12th Ministerial Conference (MC12) on June 17, 2022. The program went operational in November.
The historic agreement established rules that call for curbing harmful subsidies and protecting global fish stocks in a manner that also recognizes the needs of fishers in developing and least-developed countries.
Before it took effect, two-thirds of the WTO membership had to sign on to the program, agreeing to accept it as a binding pact.
“The Netherlands is a well-known leader in environmental policy and water management. Its support for the implementation of the WTO Agreement on Fisheries Subsidies, through its contribution to the Fund, further underlines its commitment to sustainability,” Okonjo-Iweala said in the release. “I look forward to further collaboration with the Netherlands and other WTO members to build a more resilient and sustainable future for our oceans and fisheries.”
Bekkers conveyed a message about the importance of the program when he delivered the money.
“Disciplining harmful fisheries subsidies is an important element in our efforts to maintain healthy fish stocks,” Bekkers said, according to the release. “The fisheries subsidies agreement reached at the 12th Ministerial Conference of the WTO is a significant step towards this. With the Netherlands’ contribution of EUR 1 million, we aim to support quick ratification and implementation of the agreement, and the rapid conclusion of a second comprehensive agreement.”