BENIN and Sierra Leone have formally accepted the World Trade Organisation (WTO) Agreement on Fisheries Subsidies, bringing the total number of acceptances to 80. The acceptance documents were presented to WTO Director-General Ngozi Okonjo-Iweala by Benin’s Ambassador Corinne Brunet and Sierra Leone’s Ambassador Lansana Gberie on July 19.
Director-General Okonjo-Iweala praised the countries’ commitment, stating: ‘I am delighted to receive formal acceptances from Benin and Sierra Leone. Their support highlights the significance of this Agreement for least-developed members and global efforts to ensure ocean sustainability and combat illegal fishing. We now need 30 more WTO members to follow their lead so this landmark agreement can take effect soon.’
Ambassador Brunet of Benin emphasised the importance of the Agreement: ‘By accepting the Agreement on Fisheries Subsidies, Benin is taking a crucial step towards combining economic growth with the sustainable management of marine resources. We call on all WTO members to expedite their national ratification processes.’
Ambassador Gberie of Sierra Leone echoed these sentiments, saying: ‘Sierra Leone’s ratification underscores our commitment to sustainability and fair resource use. This Agreement aligns with our national policies to protect marine biodiversity and support our fishing communities. We urge other countries, especially African and small coastal states, to ratify this Agreement and engage in further negotiations.’
The acceptance of the Agreement by Benin and Sierra Leone underscores the importance of international cooperation in addressing overfishing and ensuring the sustainability of global fish stocks. With 30 more acceptances needed, the WTO aims for the Agreement to enter into force upon acceptance by two-thirds of its members.
Adopted at the WTO’s 12th Ministerial Conference (MC12) in Geneva in June 2022, the Agreement on Fisheries Subsidies introduces new, binding rules to curb harmful subsidies that contribute to the depletion of fish stocks. It includes provisions to support developing and least-developed countries with technical assistance and capacity building.
The Agreement specifically prohibits subsidies for illegal, unreported, and unregulated (IUU) fishing, fishing overfished stocks, and fishing on the unregulated high seas. Additionally, members have agreed to continue negotiations on outstanding issues to further strengthen the Agreement’s provisions.
