GENEVA – Antigua and Barbuda has deposited its instrument of acceptance of the Agreement on Fisheries Subsidies with the World Trade Organization (WTO), becoming the 95th member state to do so.
Antigua and Barbuda formally accepts Agreement on Fisheries Subsidies Antigua real estateAntigua and Barbuda’s ambassador to the WTO, Colin Murdoch, deposited the agreement on behalf of his country.
By adopting the Agreement on Fisheries Subsidies by consensus at the WTO’s 1th Ministerial Conference in Geneva in 2022, member countries set new, binding, multilateral rules to curb harmful fisheries subsidies.
The agreement prohibits subsidies for illegal, unreported and unregulated fishing, for fishing overfished stocks, and for fishing on the unregulated high seas.
The agreement also recognizes the needs of developing economies and least-developed countries by establishing a fund to provide technical assistance and capacity-building to help them implement the new obligations, if they have formally accepted the agreement
In addition, members agreed at the ministerial conference to continue negotiating on outstanding fisheries subsidies issues, with a view to adopting additional provisions to further strengthen the Agreement’s disciplines.
“By depositing its instrument of acceptance, the government of Antigua and Barbuda is signaling its strong commitment to safeguarding marine resources and the livelihoods of its people,” said WTO Director-General, Ngozi Okonjo-Iweala .
“Our oceans’ resources are a vital component of many national economies, and we are grateful to Antigua and Barbuda for joining other WTO members in a collective effort to address this crucial global challenge. Only 16 more instruments are needed now for the Agreement to come into force!,” she added.
Antigua and Barbuda’s Foreign Affairs, Trade and Barbuda Affairs Minister, E P Chet Greene, said “Antigua and Barbuda’s deposit of its instrument of acceptance of the WTO Agreement on Fisheries Subsidies reaffirms our nation’s commitment as a small island developing state to multilateralism and to the sustainable use of marine resources.
“It also demonstrates our unwavering support for the 2030 Sustainable Development Agenda and our recognition of the importance of the fisheries sector to food security, people’s livelihoods and resilience building,” he added.
Formal acceptances from two-thirds of WTO members are required for the Agreement to enter into force. The instrument of acceptance from Antigua and Barbuda reduces to 16 the remaining acceptances needed.
