SA moves on WTO fisheries subsidies agreement

SA is edging closer to adopting the World Trade Organisation’s (WTO’s) agreement on fisheries subsidies after a decade of negotiations, says a Business Day report. Department of Environment, Forestry & Fisheries spokesperson Peter Mbelengwa said the agreement on fisheries subsidies seeks to establish for the first time a binding set of global rules to curb harmful fishing subsidies that are provided by several foreign governments to the fishing sector. ‘SA does not provide fisheries subsidies, but as a member of the WTO, participates in all WTO fisheries subsidy negotiations to ensure the interests of the SA fishing sector are taken into account. The agreement is the first multilateral trade deal to have environmental sustainability objectives at its core, primary objectives which SA supports,’ said Mbelengwa. ‘The agreement is intended to contribute to better alignment between subsidy policies and sustainability objectives. The negotiations on the agreement on fisheries subsidies have been going on for over 10 years. The Department of International Relations & Co-operation is negotiating on behalf of SA and has not yet acceded to the agreement.’ The report notes for the agreement to enter into force, two-thirds of the WTO’s 164 members must formally accept the protocol of the agreement by depositing an ‘instrument of acceptance’ with the world body.

Full Business Day report