Burkina Faso has officially ratified the Agreement on Fisheries Subsidies, becoming the 85th member of the World Trade Organization (WTO) to do so. This step highlights Burkina Faso's commitment to international obligations, as emphasized by Minister Traoré: “Burkina Faso's ratification of the Agreement on Fisheries Subsidies is testimony to the emphasis our country places on honouring its international commitments, in this case its WTO commitments."
Director-General Okonjo-Iweala expressed her satisfaction with Burkina Faso's acceptance, stating: “I am delighted that Burkina Faso has formally accepted the Agreement on Fisheries Subsidies. As a landlocked, least-developed country, Burkina Faso's commitment underscores the vital role that all WTO members must play in advancing this Agreement closer towards entry into force to foster sustainable global fisheries worldwide for the benefit of all people's livelihoods and food security."
The agreement aims to establish binding multilateral rules to reduce harmful subsidies contributing to overfishing and depletion of fish stocks globally. It also addresses illegal, unreported, and unregulated fishing practices and provides support for developing economies through technical assistance.
Minister Traoré further added: “Moreover, we wish to see implementation of this Agreement benefiting all countries, including landlocked ones, through technical capacity-building of stakeholders in the fisheries sector. We are pinning our hopes on the effectiveness of this Agreement in all its dimensions.”
With 17 African members having accepted it—nine being least-developed countries—the agreement requires 26 more formal acceptances before it can be enacted. It was initially adopted at the WTO's 12th Ministerial Conference held in Geneva from June 12-17, 2022.