The Agreement on Fisheries Subsidies has welcomed two new parties, as representatives from the Gambia and the United Kingdom have recently submitted their instruments of acceptance.
WTO Director General Okonjo-Iweala expressed her pleasure at this development. "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," she said.
The World Trade Organization (WTO) adopted the Agreement on Fisheries Subsidies at its 12th Ministerial Conference in June 2022. The agreement is an effort to protect oceanic species from harmful fisheries subsidies.
Baboucarr Ousmaila Joof, minister of trade, industry, regional integration and employment of the Gambia, elaborated on his country's commitment to this cause. "It is with great commitment and responsibility that the Gambia joins the international community in accepting the WTO Agreement on Fisheries Subsidies. This agreement marks a crucial step towards sustainable marine practices and preserving our vital oceanic ecosystems... Our participation in this agreement is a testament to our dedication to promoting sustainable trade practices and environmental stewardship, in line with our commitment to the Sustainable Development Goals," Joof said.
Approximately 55 members of the WTO have deposited their instruments of acceptance so far, which constitutes half of what is required for this agreement to take effect. For it to be enacted, two-thirds of members must deposit their instruments of acceptance with the WTO.
Andrew Mitchell, UK minister of state (development and Africa), emphasized his country's support for this initiative in a news release announcing these new agreements. "I was delighted to present the Director-General with the UK’s instrument of ratification of the WTO fisheries agreement... We strongly back the efforts to conclude the second stage of negotiations — to tackle the most harmful subsidies — ahead of the next WTO ministerial conference, MC13. And I have been delighted to pledge up to one million pounds to the new WTO fisheries fund, through the Department for Environment, Food & Rural Affairs' (DEFRA’s) Blue Planet Fund, to support the effective implementation of this agreement by developing nations," Mitchell said.