The World Trade Organization (WTO) has announced that the Lao People's Democratic Republic (PDR) has formally accepted the Agreement on Fisheries Subsidies. The instrument of acceptance from Lao PDR was presented by Ambassador Latsamy Keomany to Director-General Ngozi Okonjo-Iweala, bringing the total number of WTO members who have accepted the agreement to 74.
Adopted at the 12th Ministerial Conference on June 17, 2022, the WTO Agreement on Fisheries Subsidies prohibits harmful fisheries subsidies, addressing a significant factor in global fish stock depletion. According to information from the Agreement on Fisheries Subsidies webpage provided by WTO, this agreement represents the first achievement of a sustainable development goal target through a multilateral agreement and is also the initial WTO agreement focusing on environmental issues.
In a press release issued by WTO, Okonjo-Iweala stated, "We express our nation’s commitment to sustainable fisheries management by formally accepting the WTO Agreement on Fisheries Subsidies. This milestone underscores our dedication to combatting harmful subsidies that contribute to overfishing and environmental degradation. Being a landlocked least-developed country, Lao PDR’s proactive step demonstrates its recognition of the importance of responsible fishing practices and the need to protect marine resources globally. By depositing the instrument of acceptance, we join a global effort to promote environmental conservation and ensure a healthier and more sustainable future for our oceans."
Echoing Okonjo-Iweala's sentiments in another press release issued by WTO, Keomany said, "We express our nation’s commitment to sustainable fisheries management by formally accepting the WTO Agreement on Fisheries Subsidies. This milestone underscores our dedication to combatting harmful subsidies that contribute to overfishing and environmental degradation. Being a landlocked least-developed country, Lao PDR’s proactive step demonstrates its recognition of the importance of responsible fishing practices and the need to protect marine resources globally. By depositing the instrument of acceptance, we join a global effort to promote environmental conservation and ensure a healthier and more sustainable future for our oceans."