MC14 host Cameroon formally accepts Agreement on Fisheries Subsidies
16 December 2024, Geneva — Cameroon has formally accepted the Agreement on Fisheries Subsidies, becoming the 22nd WTO member to do so. The Agreement, which was adopted by the WTO’s 12th Ministerial Conference (MC12) in June 2022, is the first multilateral agreement on fisheries in the WTO’s history.
The Agreement aims to eliminate subsidies that contribute to overfishing and overcapacity, and to promote sustainable fishing practices. It prohibits subsidies that contribute to illegal, unreported and unregulated (IUU) fishing, and it requires members to notify the WTO of all their fisheries subsidies. The Agreement also includes provisions to address the needs of developing and least-developed countries, and it provides for technical assistance to help these countries implement the Agreement.
Cameroon’s acceptance of the Agreement is a significant step towards the entry into force of the Agreement. The Agreement will enter into force 30 days after it has been accepted by two-thirds of the WTO’s members.
Cameroon’s Minister of Commerce, Luc Magloire Mbarga Atangana, said that Cameroon’s acceptance of the Agreement is a demonstration of the country’s commitment to sustainable fishing practices. “Cameroon is a major fishing nation, and we are committed to doing our part to protect our fisheries and ensure that they are sustainable for future generations,” said Minister Mbarga Atangana.
WTO Director-General Ngozi Okonjo-Iweala welcomed Cameroon’s acceptance of the Agreement. “Cameroon’s acceptance of the Agreement on Fisheries Subsidies is a positive step towards the entry into force of this important agreement,” said DG Okonjo-Iweala. “The Agreement will help to promote sustainable fishing practices and ensure that our oceans are healthy for future generations.”
The Agreement on Fisheries Subsidies is a landmark agreement that will help to protect our oceans and ensure that our fisheries are sustainable for future generations. Cameroon’s acceptance of the Agreement is a significant step towards the entry into force of this important agreement.
MC14 host Cameroon formally accepts Agreement on Fisheries Subsidies
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