Kuwait has formally accepted the Agreement on Fisheries Subsidies, becoming the seventh Arab nation to do so. Director-General Okonjo-Iweala welcomed this move, stating that Kuwait's acceptance is a significant step towards sustainable marine fisheries and combating illegal fishing activities. She emphasized the importance of eliminating illegal, unreported, and unregulated (IUU) fishing to advance global food security.
H.E. Al-Hayen reaffirmed Kuwait's support for sustainable fishing practices and multilateral trade systems. He noted that Kuwait's commitment reflects its dedication to fair international trade and the preservation of global fishery resources. "Kuwait recognizes the importance of this agreement in combating illegal fishing practices and protecting marine ecosystems, aligning with its obligations under the United Nations Sustainable Development Goal 14," he said.
Ambassador Al-Hayen commended the World Trade Organization's efforts in addressing global challenges. He highlighted Kuwait's readiness to collaborate with all WTO members for successful implementation of the agreement. "A shared commitment to environmental sustainability and multilateral cooperation is crucial to secure the future of the next generations," he added.
Kuwait is now the fourth member from the Gulf Cooperation Council to accept this agreement. For it to enter into force, 25 more formal acceptances are required from WTO members.
The Agreement on Fisheries Subsidies was adopted by consensus at the WTO's 12th Ministerial Conference in Geneva in June 2022. It establishes new rules aimed at curbing harmful subsidies contributing to fish stock depletion worldwide while recognizing developing economies' needs through technical assistance and capacity-building funds.
The agreement prohibits subsidies for IUU fishing, overfished stocks, and unregulated high seas fishing. Members also agreed to continue negotiations on unresolved issues with plans for additional provisions enhancing these disciplines.
Further information about accepting the Protocol of Amendment is available online along with access to the full text of the Agreement and a list of members who have deposited their instruments of acceptance.