The World Trade Organization (WTO) announced that Montenegro has formally accepted the Agreement on Fisheries Subsidies. Montenegro’s instrument of acceptance was presented by Ambassador Slavica Milačić to Director-General Ngozi Okonjo-Iweala, bringing the number of WTO members to have accepted the agreement to 77.
The agreement was adopted at the 12th Ministerial Conference on June 17, 2022. A member must formally accept the protocol by depositing an instrument of acceptance. That instrument must identify the protocol by its full title, state that the member accepts the protocol, and acknowledge that they will be bound by it. It must be signed and include the name and title of the signatory. The document must be signed by the head of state, head of government, or the minister of foreign affairs, according to the Agreement on Fisheries Subsidies webpage provided by WTO.
According to a press release by WTO, Okonjo-Iweala said, "I am delighted that Montenegro has formally accepted the Agreement on Fisheries Subsidies. Montenegro's embrace of this agreement signals its dedication to aligning its fishing practices with sustainability objectives. This decisive step emphasizes the importance of collective action in safeguarding our oceans for generations to come and shows Montenegro's commitment to the multilateral trading system."
In line with Okonjo-Iweala's sentiment, Milačić said, "I am pleased that I had the opportunity to deposit the instrument of acceptance of the WTO Agreement on Fisheries Subsidies on behalf of Montenegro. It is a testament to the vital importance Montenegro places on the long-term sustainability of the oceans, the livelihoods of fishing communities, and the food security of millions of people. It is also evidence of our commitment to multilateralism and joint efforts to advance the multilateral sustainable fisheries agenda by prohibiting harmful subsidies such as those for illegal, unreported and unregulated fishing."