Sri Lanka Ratifies WTO Agreement on Fisheries Subsidies, Paving Way for Global Entry into Force
Geneva, Switzerland – August 6, 2025 – The World Trade Organization (WTO) today announced that Sri Lanka has formally accepted the Agreement on Fisheries Subsidies, a significant development bringing the landmark trade pact closer to its entry into force. This acceptance marks a crucial step forward in the global effort to curb harmful fisheries subsidies, promote sustainable fishing practices, and safeguard the health of our oceans.
The Agreement, adopted in June 2022 at the 12th WTO Ministerial Conference (MC12), represents a historic commitment by WTO members to address the issue of subsidies that contribute to overcapacity, overfishing, and illegal, unreported, and unregulated (IUU) fishing. For the Agreement to enter into force, two-thirds of the WTO membership must accept it. With Sri Lanka’s ratification, the number of accepting members continues to grow, underscoring the broad international consensus on the need for this crucial reform.
Sri Lanka’s decision to ratify the Agreement is particularly commendable. As a nation with a significant maritime domain and a reliance on fisheries for its economy and food security, Sri Lanka’s commitment to sustainable fisheries management is a powerful testament to the global importance of this initiative. By joining the growing list of ratifying members, Sri Lanka is demonstrating its dedication to responsible stewardship of its marine resources and its willingness to contribute to a more equitable and sustainable global fishing sector.
The Agreement’s key provisions aim to:
- Prohibit subsidies that contribute to overfishing and overcapacity: This directly tackles the root causes of unsustainable fishing by targeting subsidies that enable fleets to catch more fish than can be replenished.
- Prohibit subsidies contributing to IUU fishing: This crucial element addresses the pervasive problem of illegal fishing, which undermines conservation efforts and distorts markets.
- Provide special and differential treatment (SdT) for developing countries and least-developed countries (LDCs): Recognizing the diverse needs and capacities of WTO members, the Agreement includes provisions to support developing countries in their efforts to implement the Agreement and transition towards more sustainable practices. This includes flexibility in certain areas and technical assistance.
The timely acceptance of this Agreement by a growing number of nations, including Sri Lanka, sends a clear signal to the international community. It highlights the shared understanding that the health of our oceans is intrinsically linked to global economic stability, food security, and the livelihoods of millions. By working together through the WTO framework, countries are demonstrating their resolve to create a more sustainable and equitable future for fisheries.
The WTO continues to encourage all members to deposit their instruments of acceptance. With the support and commitment of nations like Sri Lanka, the Agreement on Fisheries Subsidies is moving decisively towards its entry into force, promising a new era of responsible fisheries management on a global scale.
Sri Lanka accepts WTO Agreement on Fisheries Subsidies, four remaining for entry into force
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