The World Trade Organization (WTO) has announced that Portugal pledged EUR 50,000 to support the implementation of the Agreement on Fisheries Subsidies for developing members and least-developed country (LDC) members. The contribution was presented by Ambassador Rui Macieira to WTO Director-General Ngozi Okonjo-Iweala.
The Agreement on Fisheries Subsidies, adopted at the WTO's 12th Ministerial Conference, introduces new enforceable global regulations designed to reduce harmful subsidies contributing to the depletion of fish stocks worldwide. According to the WTO Fisheries Funding Mechanism webpage, the seventh article of this agreement outlines the establishment of a funding mechanism. This mechanism aims to provide specific technical assistance and capacity-building support to aid developing and least-developed country members in implementing the agreement.
In a press release by WTO, Okonjo-Iweala expressed her gratitude towards Portugal's donation. She said, "I express my sincere gratitude to Portugal for its donation to the WTO Fisheries Funding Mechanism. Collaborative efforts to foster sustainable fisheries practices are critical for preserving marine resources and promoting the well-being of coastal communities worldwide, and Portugal's contribution will help developing members advance these goals."
In the same press release, Macieira highlighted Portugal's commitment towards sustainable ocean management. He said, "Multilateral solutions for a sustainably managed ocean have been at the top of Portugal's foreign policy agenda for many years. The Fisheries Subsidies Agreement reached in June 2022 at the 12th Ministerial Conference (MC12) is one of those solutions and an important one, prohibiting harmful fisheries subsidies. It is a real breakthrough: the first WTO agreement focused on the environment. Shortly after MC12, Portugal hosted the United Nations Ocean Conference which built upon that milestone."
Macieira further emphasized Portugal's dedication towards achieving Sustainable Development Goal (SDG) 14 and supporting LDC members in implementing the Agreement. He said, "Our contribution to the Fish Fund is a public display of our commitment to meet the targets set in Sustainable Development Goal (SDG) 14 and support LDC members in implementing the Agreement. At MC13, in Abu Dhabi, we hope to reach the two-thirds ratification threshold for the Agreement to enter into force and to sign off on the second wave of these negotiations."