The Democratic Republic of the Congo has formally accepted two significant World Trade Organization (WTO) agreements, marking a step forward in international trade cooperation. The country ratified the Agreement on Fisheries Subsidies and accepted the Trade Facilitation Agreement (TFA).
Director-General Ngozi Okonjo-Iweala expressed gratitude towards the Democratic Republic of the Congo for its commitment to protecting global resources. "I am very grateful to the Democratic Republic of the Congo for joining so many other WTO members in taking this step to protect the global commons," she said. She noted that only seven more ratifications are needed for the fisheries subsidies agreement to take effect.
Minister Kahongya highlighted the importance of this ratification, stating: “By ratifying the Agreement on Fisheries Subsidies, the Democratic Republic of the Congo reaffirms its commitment to multilateralism and sustainable management of marine resources." He emphasized that this move reflects their determination to combat overfishing and promote equitable international trade.
The TFA, concluded in 2013, aims to expedite goods movement and enhance regional trade integration. Acceptance from two-thirds of WTO members is necessary for these agreements to come into force, with 104 members having already deposited their instruments of acceptance.
During the WTO's 12th Ministerial Conference in Geneva in June 2022, ministers adopted new rules under the Agreement on Fisheries Subsidies. These rules prohibit subsidies related to illegal fishing activities and aim at preserving fish stocks.
A fund was established during this conference to assist developing economies and least-developed countries in implementing these obligations. The Fish Fund recently called for proposals from countries that have ratified the agreement, offering project grants aimed at aiding implementation efforts.
WTO members continue negotiations on additional provisions related to fisheries subsidies with an aim to strengthen existing disciplines.