North Macedonia has officially accepted the Agreement on Fisheries Subsidies, a significant step demonstrating its commitment to global trade and environmental sustainability. Despite being a landlocked nation, North Macedonia's decision highlights its dedication to responsible fisheries resource management and food security.
Director-General Ngozi Okonjo-Iweala expressed gratitude for this development, stating: "I'm grateful for North Macedonia's formal acceptance of the Agreement on Fisheries Subsidies. While a landlocked country, North Macedonia's acceptance demonstrates its commitment to the multilateral trading system and the WTO, and underscores all members' shared interest in responsible fisheries resource management, ocean sustainability, and food security. This acceptance provides further momentum for the entry into force of this important agreement for people and the planet."
In support of this move, Mr. Bilali remarked: "By joining this agreement, North Macedonia reaffirms its dedication to the conservation of marine resources and the fight against harmful subsidies that contribute to overfishing."
With North Macedonia's inclusion, 91 WTO members have now formally accepted the Agreement. However, an additional 20 acceptances are required for it to become effective. The Agreement will be enacted once two-thirds of WTO members have accepted it.
Initially adopted at the WTO's 12th Ministerial Conference in June 2022 in Geneva, the Agreement on Fisheries Subsidies aims to establish binding rules to reduce harmful subsidies contributing to global fish stock depletion. It also acknowledges the needs of developing economies by providing a fund for technical assistance and capacity building.
The Agreement prohibits subsidies related to illegal fishing activities, overfished stocks, and unregulated high seas fishing. Members have also agreed to continue negotiations on unresolved issues to further strengthen the Agreement.
For more information on how members can accept the Protocol of Amendment or access full texts and lists related to member acceptances, relevant resources are available online.