The World Trade Organization (WTO) announced Liechtenstein has pledged CHF 40,000 to the WTO Fisheries Funding Mechanism as Ambassador Kurt Jäger presented this contribution to WTO Director-General Ngozi Okonjo-Iweala. The donation is to aid developing and least-developed members in implementing the Agreement on Fisheries Subsidies. This generous act reinforces Liechtenstein's commitment towards global sustainability and international cooperation.
Now we look at how this fund is administered. Administered by the WTO in collaboration with partner organizations such as the Food and Agriculture Organization (FAO) of the United Nations, the International Fund for Agricultural Development, and the World Bank Group, the fund has received Liechtenstein's most recent donation, bringing the country's total contributions to various WTO trust funds between 2002 and 2023 to CHF 800,000. Article 7 of the Agreement stipulates the establishment of an optional funding mechanism designed to offer specific technical support and capacity-building assistance to aid developing and least-developed country members in their implementation efforts. The Agreement on Fisheries Subsidies will become effective upon the legal instrument's acceptance by two-thirds of the membership, according to a press release by WTO.
WTO Director-General expressed her appreciation for this contribution. According to a press release by WTO, Okonjo-Iweala said, "I am grateful to Liechtenstein for its donation to the Fisheries Funding Mechanism. Each contribution makes a real difference in ensuring the effective implementation of the Agreement on Fisheries Subsidies. This donation also demonstrates Liechtenstein's strong regard for global sustainability and international cooperation."
Ambassador Kurt Jäger also shared his views on this matter. According to a press release by WTO, Jäger said, "Liechtenstein is fully committed to the implementation of the UN Sustainable Development Goals, including Goal 14 on the conservation and sustainable use of the oceans, sea and marine resources. Although we do not have any fishing industry and related special expertise, we attach high importance to the WTO’s work on harmful fisheries subsidies. With our support of the Fisheries Funding Mechanism, we aim at contributing to an early implementation of the new disciplines and at helping improve fisheries management and restore overfished stocks."