South Africa has become the latest addition to a growing list of World Trade Organization (WTO) members that have ratified the organization’s fisheries subsidies agreement. The ratification took place at the 13th Ministerial Conference in Abu Dhabi, held during the first week of this month. With South Africa's inclusion, the total number of WTO member countries that have agreed to the Agreement on Fisheries now stands at 71.
The fisheries subsidies agreement was unanimously adopted at the June 2022 ministerial conference in Geneva, as stated in a news release dated March 1, which also announced South Africa's ratification. The agreement aims to mitigate the depletion of global fish stocks by reducing harmful subsidies that promote overfishing. Additionally, it prohibits support for illegal, unreported, and unregulated fishing; bans support for fishing overfished stocks; and terminates subsidies for fishing on the unregulated high seas.
Okonjo-Iweala welcomed South Africa's acceptance of the Agreement on Fisheries Subsidies at MC13 saying, "I warmly welcome South Africa's acceptance of the Agreement on Fisheries Subsidies at MC13. Ending on such a high note at the closing session of MC13 underlines the important work ahead of implementing this historic agreement for ocean sustainability. I hope South Africa's support motivates remaining WTO members to follow suit so we can enter the Agreement into force."
However, acceptance of these subsidies is not an instantaneous process. As per WTO guidelines, to accept the protocol of amendment and incorporate the agreement on fisheries subsidies into Annex 1A of the WTO agreement, members must submit instruments of acceptance that clearly identify the protocol by its full name along with its place and date of adoption. These documents must affirm that the member formally accepts and agrees to be bound by this protocol while also stating their issuance date and place. Furthermore, these instruments must bear clear signatures indicating who has signed them.
According to information available on the WTO’s web page on fisheries subsidies, the agreement will not become operational until two-thirds of WTO members accept it and deposit their instruments of acceptance.
The March 1 news release also highlights that approximately 39 more members must ratify the fisheries subsidies agreement for it to be enforced.