The World Trade Organization (WTO) recently announced that China has formally accepted the Agreement on Fisheries Subsidies. Ngozi Okonjo-Iweala, WTO director-general, expressed her pleasure at China's official acceptance.
"I am delighted to welcome China's formal acceptance of the Agreement on Fisheries Subsidies," the director-general said in a June 27 news release from the organization.
The instrument of acceptance was handed over by Commerce Minister Wang Wentao to Okonjo-Iweala in Tianjin, China, just before the World Economic Forum's 14th Annual Meeting of the New Champions, the release said. This significant step signifies China's support for the historic agreement, aimed at curbing harmful fishing subsidies and promoting the conservation and sustainable use of marine resources.
“As the world leader in marine fish catch, China's support for the implementation of this agreement is critical to multilateral efforts to safeguard oceans, food security, and livelihoods,” Okonjo-Iweala said in the release. “By curbing harmful fishing subsidies worldwide, we can together forge a path towards a legacy of abundance and opportunity for generations to come.”
Wang also commented on China's formal acceptance of the agreement, which demonstrated the country's commitment to ocean sustainability.
“The Agreement on Fisheries Subsidies is the second multilateral agreement reached by the WTO since its establishment in 1995, and the first WTO agreement aimed at achieving the goal of environmental sustainable development,” the commerce minister said in the news release. “It is a significant agreement to boost the confidence of all members in multilateralism. China has completed the approval procedure of the agreement and will work with all members to push the agreement to enter into force before the 13th WTO Ministerial Conference. At the same time, China will participate in the second phase of negotiations in a positive and constructive manner and look forward to an early outcome of the negotiations.”