The World Trade Organization (WTO) has announced that The Gambia and the United Kingdom have formally accepted the Agreement on Fisheries Subsidies by depositing their instruments of acceptance. In addition to this, the UK has expressed its intention to contribute up to GBP 1 million to the WTO Fisheries Funding Mechanism.
Seyaka Sonko, Minister of Interior of The Gambia, and Andrew Mitchell, Minister of State for Development and Africa in the UK, presented their instruments of acceptance to Director-General Ngozi Okonjo-Iweala. According to a press release by WTO, these recent deposits bring the total number of WTO members who have formally accepted the Agreement to 55. This constitutes 50% of the required threshold for it to take effect, equivalent to two-thirds of the WTO membership.
In a statement from the WTO, Okonjo-Iweala said: "I am delighted to receive the formal acceptance of the Agreement on Fisheries Subsidies by The Gambia, the first least-developed country to do so. I also heartily welcome the UK's formal acceptance of the Agreement on Fisheries Subsidies and am grateful for its pledge to the Fisheries Funding Mechanism."
Okonjo-Iweala further noted: "The steady influx in formal acceptances of the Agreement on Fisheries Subsidies from governments across regions and levels of development is a testament to the widespread recognition of the pressing need to protect our oceans. Each new acceptance marks a step forward in our collective efforts to curb harmful fisheries subsidies, preserve marine resources, and safeguard the welfare of people that depend on them."
According to information provided by WTO on its webpage dedicated to this agreement, The WTO Agreement on Fisheries Subsidies was adopted at its 12th Ministerial Conference held on June 17, 2022. This agreement prohibits harmful fisheries subsidies which are a key factor contributing towards global fish stock depletion. It represents not only the first achievement of a sustainable development goal target through a multilateral agreement but also the first WTO agreement with a focus on environmental issues.