Philippines, 33 other WTO members push to ratify fisheries deal

MANILA, Philippines — The Philippines and 33 other members of the World Trade Organization (WTO) are pushing the global body to ratify the landmark fisheries agreement aimed at curbing harmful subsidies that lead to illegal, unreported and unregulated fishing (IUUF).

In a joint communication, the Philippines and other members including China and the United States, affirmed their support for the entry into force of the WTO Agreement on Fisheries Subsidies.

They said they look forward to the implementation of the agreement “as soon as possible this year.”

The landmark deal was reached in 2022 during the 12th Ministerial Conference of the WTO, which serves as the highest decision-making body of the multilateral organization.

The Philippines became the 70th WTO member to ratify the agreement last February, during the 13th Ministerial Conference.

Around 40 more member-countries need to formally accept the agreement since at least two-thirds of the WTO membership, currently at 164, is required in order for the agreement to come into effect.

The WTO members signatory to the communication indicated that they also look forward to the operationalization of the WTO Fisheries Funding Mechanism once the agreement enters into force.

The funding mechanism seeks to provide targeted technical assistance and capacity building to help developing and least-developed countries implement the fisheries subsidies agreement.

The Philippines supported the creation of the funding mechanism, arguing that it is essential in beefing up its capacities to manage its fisheries resources.

“We also affirm our support for conclusion of the negotiations on additional provisions relating to overcapacity and overfishing in July ahead of the European summer break, building on the significant progress made by Members at the 13th Ministerial Conference (MC13) in Abu Dhabi,” the joint communication read.

The WTO members said advancing the fisheries agreement is in line with the achievement of the Sustainable Development Goals, particularly Target 14.6 which seeks to prohibit harmful subsidies that result in overcapacity and overfishing as well as IUUF.