WTO revises text for a global agreement in the fisheries sector

Negotiations for a global agreement aimed at reducing billions of dollars in subsidies that cause overfishing and excessive capacities in the fishing industry got underway this Monday at the World Trade Organization (WTO), with three weeks to go before a crucial ministerial conference on the subject.

The president of the negotiation, Santiago Wills, from Colombia, brought to the table a revised text in which he seeks to go in the direction of India, Bangladesh, and Sri Lanka, among other countries that want to be exempt from disciplinary actions on subsidies. The text now excludes poorer, resource-poor countries, or subsistence fishing and activity-related activities within 12 nautical miles of the coast.

Developing countries with an annual share in the volume of marine capture that does not exceed a certain volume would also be left out. The suggested limit is 0.7% of fish production, but it must be submitted to the negotiations.

For developing countries that exceed this limit, there will be a transition period to end subsidies. Some countries, like India, want 25 years to submit to the negotiated rule. Others feel that any timeframe should only be a few years.

With respect to subsidies for deep-sea and unregulated fishing, they remain subject to the ban, without exception. Subsidies dependent on or linked to fisheries in distant waters would be prohibited.  These pertain mainly to fishing in the Exclusive Economic Zones of other member countries and in areas within the competence of fisheries management organizations.

Source: Valor Econômico

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https://valor.globo.com/agronegocios/noticia/2021/11/08/omc-tem-texto-revisado-para-um-acordo-global-no-setor-pesqueiro.ghtml

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