Chinese Taipei Formally Accepts Agreement on Fisheries Subsidies, Bringing Tally to 90
Geneva, 18 February 2025 – Chinese Taipei formally accepted the Agreement on Fisheries Subsidies (Agreement) at an event at the World Trade Organization (WTO) headquarters in Geneva today, bringing the total number of acceptances to 90.
The Agreement is the first multilateral agreement concluded under the auspices of the WTO’s fisheries negotiations, which began in the early 2000s. It prohibits subsidies that contribute to overfishing and overcapacity, and it sets new disciplines on subsidies that contribute to illegal, unreported, and unregulated (IUU) fishing.
The acceptance by Chinese Taipei is a significant milestone in the process of bringing the Agreement into force. The Agreement will enter into force 30 days after two-thirds of WTO members have accepted it.
“I am delighted to welcome Chinese Taipei as the 90th member to accept the Agreement on Fisheries Subsidies,” said WTO Director-General Ngozi Okonjo-Iweala. “This is a major step towards bringing this important agreement into force and making a real difference in the fight against overfishing and IUU fishing.”
The Agreement is a landmark deal that will help to conserve fish stocks, protect marine ecosystems, and make fishing more sustainable. It is estimated that the Agreement will eliminate up to $20 billion in harmful subsidies each year.
Chinese Taipei is a major player in the global fisheries sector. It is the world’s second largest distant water fishing nation and has a large aquaculture industry. Chinese Taipei’s acceptance of the Agreement is a clear demonstration of its commitment to sustainable fishing practices.
“Chinese Taipei is committed to working with the WTO and other members to implement the Agreement on Fisheries Subsidies and make it a success,” said Mr. Chen Chien-jen, Minister of Foreign Affairs of Chinese Taipei. “We believe that this Agreement is essential for the future of our oceans and for the livelihoods of millions of people around the world.”
The WTO encourages all remaining members to accept the Agreement as soon as possible so that it can enter into force and start making a difference in the fight against overfishing and IUU fishing.
Chinese Taipei formally accepts Agreement on Fisheries Subsidies, bringing tally to 90
The AI has provided us with the news.
I asked Google Gemini the following question.
WTO a new article on 2025-02-18 17:00 titled “Chinese Taipei formally accepts Agreement on Fisheries Subsidies, bringing tally to 90”. Please write a detailed article on this news item, including any relevant information. Answers should be in English.
74