Islamabad/Geneva, March 21: The World Trade Organization (WTO) announced that Pakistan has officially accepted the Agreement on Fisheries Subsidies.
Pakistan’s Ambassador to the WTO, Ali Sarfaraz Hussain, presented the instrument of acceptance to WTO Director-General Ngozi Okonjo-Iweala on Thursday, as confirmed on the WTO’s website.
The WTO Director-General emphasized that Pakistan’s formal acceptance of the agreement represents a crucial step toward ensuring the sustainability of global marine resources while safeguarding the livelihoods and food security of millions who rely on healthy fisheries.
She highlighted that Pakistan’s participation in this initiative shows its dedication to its coastal communities and the environment, making the country eligible for resources from the WTO’s Fish Fund.
Okonjo-Iweala called on other WTO members to follow Pakistan’s lead, noting that just 17 more acceptances are needed for the agreement to come into effect.
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Ambassador Hussain expressed Pakistan’s pride in ratifying the agreement, noting that it reflects the government’s steadfast commitment to protecting marine resources, which are vital to both the national economy and the livelihoods of coastal communities.
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Adopted by consensus during the WTO’s 12th Ministerial Conference (MC12) in Geneva in June 2022, the Agreement on Fisheries Subsidies sets new, binding multilateral rules aimed at curbing harmful subsidies, which have contributed to the global depletion of fish stocks.
The agreement also acknowledges the challenges faced by developing economies and least-developed countries, providing them with a fund for technical assistance and capacity building to help implement its obligations.
The agreement prohibits subsidies for illegal, unreported, and unregulated fishing, fishing on overfished stocks, and fishing in unregulated areas of the high seas.
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During the MC12, members also agreed to continue negotiations on outstanding issues and adopt further provisions to strengthen the agreement’s disciplines.
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Ambassador Hussain emphasized that Pakistan recognizes the critical role the agreement plays in addressing harmful fishing practices and ensuring the long-term health of the oceans.
He urged all WTO members to join Pakistan in this essential global effort.
With Pakistan’s acceptance, the total number of WTO members that have formally agreed to the fisheries subsidies agreement rises to 94.
The agreement will come into force once two-thirds of the WTO membership—17 more countries—formally accept it.
