Chinese Taipei has officially accepted the World Trade Organization's (WTO) Agreement on Fisheries Subsidies, becoming the 90th member to do so. This move brings the agreement closer to coming into force, as only 21 more acceptances are required for its implementation.
Director-General Ngozi Okonjo-Iweala expressed her approval of Chinese Taipei's decision, stating, "I warmly welcome Chinese Taipei's formal acceptance of the Agreement on Fisheries Subsidies. It underscores the collective determination of WTO members to address harmful subsidies that deplete fish stocks and to ensure healthier oceans for the benefit of livelihoods and ecosystems worldwide. I encourage the remaining WTO members to swiftly follow suit – we need only 21 more."
Dr. Lo, Permanent Representative of Chinese Taipei to the WTO, highlighted their commitment by saying, "The Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu is pleased to formally deposit our instrument of acceptance for the WTO Agreement on Fisheries Subsidies. Throughout the negotiations, we have engaged constructively and believe we have made a meaningful contribution to the outcome. Our strong commitment to the disciplines embedded in the Agreement is reflected in this deposit. With our submission, alongside those of other members, we hope to see the Agreement enter into force ahead of the 14th Ministerial Conference (MC14), thereby providing momentum for the ongoing Phase II negotiations."
The agreement was adopted by consensus during the WTO's 12th Ministerial Conference held in Geneva from June 12-17, 2022. It establishes binding multilateral rules aimed at curbing harmful subsidies that contribute significantly to global fish stock depletion. The agreement also considers developing economies and least-developed countries by setting up a fund for technical assistance and capacity building.
Provisions within the agreement prohibit subsidies related to illegal, unreported and unregulated fishing; fishing overfished stocks; and fishing in unregulated high seas areas. Further negotiations on unresolved issues are planned with hopes of enhancing these disciplines.
The full text of the agreement and additional resources for member countries can be accessed through provided links.