WTO: Chinese Taipei Formally Accepts Agreement on Fisheries Subsidies, Bringing Tally to 90
Geneva, 2025-02-18 – Chinese Taipei formally accepted the Agreement on Fisheries Subsidies today, bringing the total number of acceptances to 90. The Agreement will enter into force on 2025-06-18, 30 days after the 90th acceptance.
The Agreement on Fisheries Subsidies is the first multilateral agreement to regulate subsidies in the fisheries sector. It prohibits subsidies that contribute to overfishing and overcapacity, such as subsidies for fuel and fishing gear. It also promotes subsidies that support sustainable fishing practices, such as subsidies for research and development.
The Agreement is a major step forward in the fight against illegal, unreported, and unregulated (IUU) fishing. IUU fishing is a serious problem that threatens the sustainability of fish stocks and the livelihoods of fishermen. The Agreement will help to reduce IUU fishing by prohibiting subsidies that support IUU fishing and by promoting transparency in the fisheries sector.
The Agreement is also a major victory for the environment. Overfishing is a major threat to marine ecosystems. The Agreement will help to reduce overfishing by prohibiting subsidies that contribute to overfishing and by promoting sustainable fishing practices.
The Agreement is a significant achievement for the WTO. It is the first multilateral agreement to be negotiated and adopted under the WTO’s new dispute settlement system. The Agreement also demonstrates the WTO’s commitment to addressing the challenges of sustainable development.
Welcome by WTO Director-General
WTO Director-General Ngozi Okonjo-Iweala welcomed Chinese Taipei’s acceptance of the Agreement on Fisheries Subsidies.
“I welcome Chinese Taipei’s acceptance of the Agreement on Fisheries Subsidies,” said Okonjo-Iweala. “This brings us one step closer to the entry into force of this important agreement. The Agreement will help to reduce overfishing, promote sustainable fishing practices, and combat IUU fishing. It is a major victory for the environment and for the WTO.”
Background
The Agreement on Fisheries Subsidies was negotiated over a period of four years. It was adopted by the WTO General Council on 2023-06-17. The Agreement is open to acceptance by all WTO members.
The Agreement will enter into force 30 days after the 90th acceptance. It will then be binding on all WTO members that have accepted it.
For more information, please contact:
WTO Spokesperson Tel: +41 22 739 5005 Email: spokesperson@wto.org
Chinese Taipei formally accepts Agreement on Fisheries Subsidies, bringing tally to 90
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