Ecuador formally accepts Agreement on Fisheries Subsidies

Ecuador Accepts Agreement on Fisheries Subsidies

The Director-General of the World Trade Organization (WTO), Okonjo-Iweala, has expressed her warm welcome to Ecuador’s formal acceptance of the Agreement on Fisheries Subsidies. Ecuador, being one of the largest tuna exporters in the world and the proud steward of the Galapagos islands, stands to benefit greatly from this global commitment to curb harmful fisheries subsidies. This Agreement not only aims to preserve marine biodiversity but also secure long-term economic opportunities for the nation.

Ambassador Valencia’s Statement

Ambassador Valencia, on behalf of Ecuador, presented the instrument of acceptance of the Agreement on Fisheries Subsidies. This agreement is the first of its kind in the WTO that promotes trade regulations while considering the sustainability of the oceans. Ecuador’s acceptance of this Agreement reaffirms its firm commitment to achieving Sustainable Development Goal 14.6, which focuses on protecting the life cycles of marine populations, improving the living conditions of citizens dependent on fishing activities (especially economically vulnerable communities), and promoting transparency by prohibiting subsidies to harmful activities such as illegal, unreported, and unregulated fishing.

Ecuador’s acceptance brings the total number of WTO members that have formally accepted the Agreement to 84. However, an additional 27 formal acceptances are still needed for the Agreement to come into effect. The Agreement will enter into force upon acceptance by two-thirds of the membership.

About the Agreement on Fisheries Subsidies

The Agreement on Fisheries Subsidies was adopted by consensus at the WTO’s 12th Ministerial Conference (MC12) in Geneva on 12-17 June 2022. It sets new, binding, multilateral rules to curb harmful subsidies, which are a major factor in the widespread depletion of the world’s fish stocks. The Agreement also recognizes the needs of developing economies and least-developed countries, establishing a fund to provide technical assistance and capacity building to help them implement the obligations.

Specifically, the Agreement prohibits subsidies for illegal, unreported, and unregulated (IUU) fishing, fishing overfished stocks, and fishing on the unregulated high seas. Members have also agreed to continue negotiations on outstanding issues to further enhance the disciplines of the Agreement.

The full text of the Agreement can be accessed here. The list of members that have deposited their instruments of acceptance is available here. Information for members on how to accept the Protocol of Amendment is available here.

SDGs, Targets, and Indicators

1. Which SDGs are addressed or connected to the issues highlighted in the article?

• SDG 14: Life Below Water

The article mentions that Ecuador’s acceptance of the Agreement on Fisheries Subsidies reaffirms its commitment to promoting the achievement of Sustainable Development Goal 14.6, which focuses on protecting the life cycles of marine populations and improving the living conditions of citizens who depend on fishing activities.

2. What specific targets under those SDGs can be identified based on the article’s content?

• Target 14.6: By 2020, prohibit certain forms of fisheries subsidies that contribute to overcapacity and overfishing, eliminate subsidies that contribute to illegal, unreported, and unregulated fishing, and refrain from introducing new such subsidies, recognizing that appropriate and effective special and differential treatment for developing and least developed countries should be an integral part of the World Trade Organization fisheries subsidies negotiation.

The article mentions that the Agreement on Fisheries Subsidies sets new, binding, multilateral rules to curb harmful subsidies, including subsidies for illegal, unreported, and unregulated (IUU) fishing. This aligns with the target of prohibiting certain forms of fisheries subsidies that contribute to overfishing and eliminating subsidies that contribute to illegal fishing.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

• Indicator 14.6.1: Progress by countries in the degree of implementation of international instruments aiming to combat illegal, unreported, and unregulated fishing.

The article mentions that the Agreement on Fisheries Subsidies prohibits subsidies for illegal, unreported, and unregulated (IUU) fishing. The implementation of this agreement can be measured using Indicator 14.6.1, which tracks progress in the degree of implementation of international instruments aiming to combat IUU fishing.

4. Table: SDGs, Targets, and Indicators

Source: wto.org