North Macedonia Formally Accepts WTO Agreement on Fisheries Subsidies, Boosting Global Sustainability Efforts
Geneva, Switzerland – February 28, 2025, 17:00 CET – North Macedonia has today formally accepted the Agreement on Fisheries Subsidies, becoming the latest WTO Member to solidify its commitment to curbing harmful subsidies that contribute to overfishing and depletion of marine resources. The acceptance was officially deposited with WTO Director-General Dr. Ngozi Okonjo-Iweala at the WTO headquarters in Geneva.
This milestone signals a significant step forward for global efforts to promote sustainable fishing practices and protect the world’s oceans. The Agreement, adopted at the WTO’s 12th Ministerial Conference (MC12) in June 2022, aims to tackle a key driver of overfishing by prohibiting subsidies that contribute to illegal, unreported, and unregulated (IUU) fishing, as well as subsidies for fishing overfished stocks.
“We are delighted to welcome North Macedonia as a formal acceptor of the Agreement on Fisheries Subsidies,” said Dr. Okonjo-Iweala. “This demonstrates their commitment to sustainable development and reinforces the crucial role of the WTO in promoting global environmental sustainability. Each new acceptance moves us closer to the Agreement’s entry into force and its transformative impact on the health of our oceans.”
Key Provisions of the Agreement:
The Agreement on Fisheries Subsidies focuses on eliminating harmful subsidies, with particular emphasis on three key areas:
- Prohibition of Subsidies for IUU Fishing: The Agreement bans subsidies that contribute to illegal, unreported, and unregulated (IUU) fishing activities. This provision aims to deter illicit fishing practices that undermine sustainable resource management.
- Prohibition of Subsidies for Overfished Stocks: Subsidies for fishing stocks that are already overfished are also prohibited. This measure seeks to prevent further depletion of vulnerable fish populations and promote stock recovery.
- Transparency and Notification Requirements: The Agreement strengthens transparency by requiring WTO Members to notify their fisheries subsidies programs. This increased transparency enables better monitoring and assessment of the impact of subsidies on fish stocks.
Impact on North Macedonia:
North Macedonia’s acceptance of the Agreement signifies its commitment to aligning its fisheries policies with international best practices for sustainable resource management. While North Macedonia is a landlocked country, it participates in international fishing agreements and has a stake in the global effort to ensure healthy and productive oceans.
By adhering to the Agreement, North Macedonia commits to:
- Reviewing its Existing Fisheries Subsidies: North Macedonia will need to review its existing fisheries subsidy programs to ensure they comply with the Agreement’s prohibitions.
- Implementing Stricter Monitoring and Enforcement: The country will need to enhance its monitoring and enforcement mechanisms to prevent IUU fishing and ensure compliance with fisheries management measures.
- Promoting Sustainable Fishing Practices: North Macedonia will be further encouraged to promote sustainable fishing practices among its stakeholders and contribute to international collaboration on fisheries management.
Global Significance:
The Agreement on Fisheries Subsidies is considered a landmark achievement for the WTO, as it demonstrates the organization’s ability to address pressing environmental challenges through multilateral trade rules. The Agreement marks the first time that the WTO has focused its rules specifically on environmental sustainability.
For the Agreement to enter into force, two-thirds of WTO members must formally accept it. With North Macedonia’s acceptance, the number of parties committed to the Agreement continues to grow, bringing the world closer to achieving its ambitious goals for ocean conservation.
Looking Ahead:
The WTO is actively working to support developing countries in implementing the Agreement, including providing technical assistance and capacity building. The organization is also continuing negotiations on broader disciplines on fisheries subsidies, aiming to address subsidies that contribute to overcapacity and overfishing beyond the areas covered in the current Agreement.
The formal acceptance by North Macedonia underscores the global momentum towards a more sustainable future for our oceans and highlights the critical role of international cooperation in tackling environmental challenges. The WTO continues to encourage all its Members to accept the Agreement as soon as possible, paving the way for its entry into force and its transformative impact on the health of our planet.
About the WTO:
The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. The WTO has 164 members, representing 98% of world trade. The WTO’s main goal is to ensure that trade flows as smoothly, predictably, and freely as possible.
North Macedonia formally accepts Agreement on Fisheries Subsidies
The AI has provided us with the news.
I asked Google Gemini the following question.
WTO a new article on 2025-02-28 17:00 titled “North Macedonia formally accepts Agreement on Fisheries Subsidies”. Please write a detailed article on this news item, including any relevant information. Answers should be in English.
273