Chinese Taipei Formally Accepts Agreement on Fisheries Subsidies, Bringing Tally to 90
Geneva, 18 February 2025 – Chinese Taipei has formally accepted the Agreement on Fisheries Subsidies, bringing the total number of countries and separate customs territories that have accepted the agreement to 90. The Agreement will enter into force on 18 March 2025.
The Agreement on Fisheries Subsidies is the first multilateral agreement negotiated and concluded under the auspices of the World Trade Organization (WTO) since 1994. It aims to prohibit certain forms of fisheries subsidies that contribute to overfishing and overcapacity, and to eliminate subsidies that contribute to illegal, unreported and unregulated (IUU) fishing.
The Agreement sets out a number of disciplines on fisheries subsidies, including:
- A prohibition on subsidies that contribute to overfishing and overcapacity;
- A prohibition on subsidies that contribute to IUU fishing;
- Disciplines on subsidies that are contingent on the catch or value of the catch;
- Disciplines on subsidies that are contingent on the use of fishing gear or methods that have a negative impact on the marine environment; and
- Special and differential treatment for developing countries and least-developed countries.
The Agreement also establishes a Committee on Fisheries Subsidies to oversee the implementation of the Agreement and to consider any future issues related to fisheries subsidies.
The acceptance of the Agreement by Chinese Taipei is a significant step towards the entry into force of the Agreement. The Agreement will enter into force 30 days after two-thirds of WTO members have accepted it. With the acceptance by Chinese Taipei, the Agreement has now been accepted by 90 countries and separate customs territories, or over two-thirds of WTO members.
The entry into force of the Agreement will be a major milestone in the fight against overfishing and IUU fishing. The Agreement will help to level the playing field for fishers around the world and to ensure that fish stocks are managed sustainably for future generations.
Chinese Taipei formally accepts Agreement on Fisheries Subsidies, bringing tally to 90
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