Kazakhstan has formally accepted the Agreement on Fisheries Subsidies, as announced on July 1, 2024. Director-General Okonjo-Iweala commented, “I welcome Kazakhstan's Acceptance of the Agreement on Fisheries Subsidies. This action demonstrates Kazakhstan's commitment, even as a landlocked nation, to responsible fisheries resource management. It underscores the need for global cooperation in safeguarding the shared marine ecosystem upon which all of us depend. I commend Kazakhstan for taking this step, which brings us closer to this Agreement's entry into force."
Ambassador Irgaliyev expressed satisfaction with the development: “We are so pleased that Kazakhstan can finally deposit its instrument of acceptance of the WTO Agreement on Fisheries Subsidies. This milestone underscores our dedication to sustainable fishing practices and marine ecosystem preservation. By joining this agreement, Kazakhstan aligns with global efforts to combat overfishing, and the prohibition of subsidies related to illegal, unreported, and unregulated (IUU) fishing is crucial. Moreover, it contributes to the UN's Sustainable Development Goals, which are vital for ocean health, livelihoods, and food security. Kazakhstan, a landlocked country, proudly supports these global efforts for a sustainable future.”
With Kazakhstan’s acceptance, a total of 78 World Trade Organization (WTO) members have now formally accepted the Agreement. Thirty-two more acceptances are required for it to come into effect. The Agreement will enter into force once two-thirds of WTO membership have accepted it.
Adopted by consensus at the WTO's 12th Ministerial Conference (MC12), held in Geneva from June 12-17 in 2022, the Agreement on Fisheries Subsidies establishes new binding multilateral rules aimed at curbing harmful subsidies that contribute significantly to global fish stock depletion. It also recognizes the needs of developing economies and least-developed countries by establishing a fund to provide technical assistance and capacity building.
The Agreement prohibits support for illegal, unreported and unregulated (IUU) fishing activities; bans support for fishing overfished stocks; and ends subsidies for fishing on unregulated high seas.
Members agreed at MC12 to continue negotiations on outstanding issues with an aim to adopt additional provisions that would further enhance the disciplines set forth in the Agreement.
Further details including access to the full text of the Agreement and information on how members can accept the Protocol of Amendment are available through designated links provided by WTO.