Malawi has become the 100th member of the World Trade Organization (WTO) to formally accept the Agreement on Fisheries Subsidies. This development marks a significant step towards implementing a multilateral agreement aimed at promoting sustainable use of oceans and fisheries.
WTO Director-General Okonjo-Iweala stated, “The depletion of marine fish stocks globally requires our urgent collective action. I thank Malawi for joining this crucial collective effort. With Malawi's instrument of acceptance, we have reached a milestone for putting into motion a multilateral deal that will support more sustainable use of our oceans and fisheries for current and future generations. With this 100th instrument, we now need just 11 more to add the Agreement to the WTO rulebook!”
Ambassador Bwanali-Mussa emphasized Malawi's commitment despite not being a coastal nation. “Malawi is committed to the multilateral trading system. Although we are not a coastal country, we fully support WTO members' collective efforts to protect the environment, conserve global fish stocks and combat illegal, unreported and unregulated fishing. These efforts are integral to the protection of the livelihoods of vulnerable populations who rely on aquatic ecosystems for food security, employment, health and socio-economic resilience.”
The agreement needs formal acceptances from two-thirds of WTO members, or 111 members in total, to come into force. The list of members who have deposited their instruments is available through official channels.
Adopted during the WTO's 12th Ministerial Conference in Geneva in June 2022, the Agreement on Fisheries Subsidies establishes binding rules against harmful subsidies. It prohibits subsidies linked to illegal fishing activities and overfished stocks while also addressing concerns related to fishing on unregulated high seas.
Acknowledging challenges faced by developing economies and least-developed countries, ministers agreed on creating a fund dedicated to providing technical assistance and capacity-building efforts for those governments that have accepted the agreement.
Ongoing negotiations aim at resolving outstanding issues related to fisheries subsidies with an objective to enhance these disciplines further.
Guidance for accepting the Protocol of Amendment is accessible for WTO members seeking information.