The World Trade Organization (WTO) has announced that Fiji has accepted the Agreement on Fisheries Subsidies. Fiji submitted its instrument of acceptance to WTO Director-General Ngozi Okonjo-Iweala, with Ambassador Luke Daunivalu making the presentation. This brings the total number of WTO members that have formally accepted the Agreement to 52.
The Agreement on Fisheries Subsidies was adopted at the WTO's 12th Ministerial Conference in June 2022. It aims to introduce global regulations to reduce harmful subsidies that contribute to the depletion of fish stocks. The Agreement recognizes the needs of developing and least-developed countries (LDCs) and establishes a fund dedicated to providing technical support and capacity building to assist these nations in meeting their obligations. The Agreement also prohibits subsidies for illegal, unreported, and unregulated (IUU) fishing, support for the exploitation of overfished stocks, and subsidies for fishing activities conducted in unregulated areas of the high seas.
According to a press release by WTO, Director-General Ngozi Okonjo-Iweala said, “We are absolutely delighted that Fiji has presented its acceptance of the Agreement on Fisheries Subsidies. It is the first Pacific Island developing nation to do so, and we are confident it will not be the last. We hope this action will encourage not only the Pacific but also all other members that have not yet deposited to do so. We are delighted that Fiji took this important step during our Senior Officials Meeting.”
According to a press release by WTO, Ambassador Luke Daunivalu said, “We are so pleased that Fiji can finally deposit its instrument of acceptance of the WTO Agreement on Fisheries Subsidies. It's a testament of our commitment to disciplining subsidies for illegal, unreported and unregulated (IUU) fishing. It's also a fulfilment of the promise made by our Deputy Prime Minister Manoa Seru Kamikamica when he was here some months ago during Fiji's fourth Trade Policy Review. Hopefully this paves the way for other members who have yet to ratify to do so, not just from the Pacific but from other parts of the world.”
Fiji's acceptance of the Agreement on Fisheries Subsidies is a significant step towards promoting sustainable fishing practices and protecting marine resources. It sets an example for other nations to follow and demonstrates Fiji's commitment to combatting IUU fishing and ensuring the long-term viability of global fish stocks.