The World Trade Organization (WTO) announced Norway has committed NOK 9 million (about CHF 730,500) to the WTO Fisheries Funding Mechanism. This financial support from Norway, presented by WTO Ambassador Petter Ølberg to Director-General Ngozi Okonjo-Iweala, is intended to assist developing and least-developed members in effectively implementing the Agreement on Fisheries Subsidies. This move reinforces Norway's continued commitment towards global marine sustainability.
The management and funding of this initiative are not solely WTO responsibilities. The fund is managed by the WTO in collaboration with partner organizations, including the Food and Agriculture Organization (FAO), the International Fund for Agricultural Development, and the World Bank Group. The agreement will be activated once two-thirds of the membership accepts its legal instrument, and nearly half of the required support for its implementation is already secured, according to a press release by WTO.
On receiving this contribution, Director-General Ngozi Okonjo-Iweala expressed her gratitude. According to a press release by WTO, Okonjo-Iweala said, "I welcome Norway's generous donation to the Fisheries Funding Mechanism, which will enable it to better support developing and least-developed country members to manage their fisheries resources and implement the Agreement on Fisheries Subsidies. Norway has been an active supporter of the WTO's work on fisheries subsidies, and of WTO technical assistance, and it is very heartening to see its continuing commitment to achieve global marine sustainability."
Ambassador Petter Ølberg emphasized the significance of fish in human nutrition while acknowledging this important step taken by his country. "Fish plays a significant role in human nutrition and food security," said Ølberg, according to a press release by WTO. "The Agreement on Fisheries Subsidies, adopted last year, delivers on the mandate in the UN Sustainable Development Goals and is the first WTO agreement to focus on the environment. Targeted technical assistance and capacity building is vital to achieve a successful implementation of the Agreement."
Ølberg further explained how Norway's contribution aligns with its long-standing commitment towards fisheries development. According to a press release by WTO, Ølberg said, "Norway has a long history of fisheries development and management assistance and provides support to the FAO and other UN organizations as well as to regional fisheries management organizations and other regional initiatives. Keeping up that tradition, I am today pleased to announce Norway’s donation of NOK 9 million to the WTO Fisheries Funding Mechanism."