Lesotho has officially accepted the World Trade Organization's (WTO) Agreement on Fisheries Subsidies, marking a significant step towards implementing new international rules designed to curb harmful fisheries subsidies. This development was acknowledged by WTO Director-General Ngozi Okonjo-Iweala, who stated: "I deeply appreciate Lesotho's commitment to the WTO and to supporting the implementation of this historic agreement. We are now very close to breaking new ground in safeguarding livelihoods and food security and securing the future of our shared oceans and marine fisheries – just 12 more acceptances to go!"
Despite being a landlocked country with no marine fisheries, Lesotho's acceptance underscores its dedication to global sustainability efforts. Ambassador Khathibe remarked: "Our deposit of the instrument of acceptance of the Agreement on Fisheries Subsidies reaffirms Lesotho’s unwavering commitment to a rules-based multilateral trading system and our support for global efforts to ensure the sustainable use of our shared natural resources."
The Agreement on Fisheries Subsidies was adopted at the WTO's 12th Ministerial Conference held in Geneva in June 2022. It sets binding multilateral rules that prohibit subsidies contributing to illegal, unreported, and unregulated fishing activities. The agreement also includes provisions for overfished stocks and fishing on unregulated high seas.
For this agreement to be enforced, formal acceptances from two-thirds of WTO members—equating to 111 members—are necessary. As it stands, only 12 more acceptances are required for it to come into effect.
Ambassador Khathibe emphasized Lesotho's alignment with Sustainable Development Goal 14.6, which focuses on conserving marine resources: "By accepting this Agreement, Lesotho stands in solidarity with the global community in advancing Sustainable Development Goal 14.6 and protecting the marine environment for present and future generations."
In recognition of developing economies' needs, a fund has been established within the agreement framework to assist governments that have accepted these new obligations through technical assistance and capacity-building initiatives.
Negotiations continue among WTO members regarding additional measures related to fisheries subsidies with an aim toward further strengthening existing disciplines.