Ghana has officially accepted the World Trade Organization (WTO) Agreement on Fisheries Subsidies, joining other member nations in efforts to bring the agreement closer to enforcement. WTO Director-General Okonjo-Iweala remarked, "I congratulate Ghana on joining forces with other WTO members to bring the Agreement on Fisheries Subsidies closer to entry into force. This collective effort to curb harmful fisheries subsidies puts us on the right track to begin restoring our oceans' health and improve the livelihoods of millions of people. Only 8 acceptances more to go!"
Ambassador Antwi expressed Ghana's commitment by stating, "Ghana is pleased to be depositing its instrument of acceptance for the WTO Agreement on Fisheries Subsidies. We are confident that, with our ratification of this crucial Agreement, Ghana is in a much better position to contribute to environmental sustainability, in line with the mandate of United Nations Sustainable Development Goal 14.6."
The agreement requires formal acceptance from two-thirds of WTO members—111 in total—to take effect. Currently, 103 members have deposited their instruments of acceptance.
Adopted at the WTO's 12th Ministerial Conference (MC12) in Geneva in June 2022, the Agreement on Fisheries Subsidies introduces new binding rules aimed at reducing harmful fisheries subsidies. It prohibits subsidies for illegal, unreported and unregulated fishing, overfished stocks, and unregulated high seas fishing.
Acknowledging the needs of developing economies and least-developed countries (LDCs), ministers established a fund providing technical assistance and capacity-building support for implementing these obligations. The Fish Fund has invited proposals from developing and LDC members who have ratified the agreement for project grants supporting implementation efforts.
Further negotiations continue among WTO members concerning unresolved issues related to fisheries subsidies. The goal is reaching consensus on additional measures strengthening subsidy disciplines.