In a landmark move to promote sustainable marine fisheries, the European Union has generously donated €1 million to the World Trade Organization’s Fisheries Funding Mechanism. This multi-year contribution, presented by Ambassador João Aguiar Machado to WTO Director-General Ngozi Okonjo-Iweala, is a significant step toward assisting developing and least-developed members in implementing the Agreement on Fisheries Subsidies.
Director-General Okonjo-Iweala expressed deep appreciation for the EU's support, emphasizing its crucial role in global efforts to ensure the sustainability of marine fisheries. This contribution not only complements previous donations by individual EU member states and other WTO members but also arrives at a critical juncture in the push for the Agreement's enactment.
Ambassador Aguiar Machado highlighted the EU's commitment to the health of oceans and the effectiveness of WTO’s negotiation processes. He stressed the importance of the Agreement on Fisheries Subsidies in responding to global challenges, urging all members to ratify the Agreement in time for the 13th Ministerial Conference in Abu Dhabi.
The EU’s latest donation elevates the total EU and member state contributions to €7.5 million, with significant donations from France, Germany, the Netherlands, Spain, and Sweden. This collective effort demonstrates a strong European commitment to global environmental governance and sustainable fishing practices.
The Agreement on Fisheries Subsidies will be operational upon acceptance by two-thirds of WTO members. With nearly half the required acceptances already secured, the Agreement is close to becoming effective. It necessitates adjustments in members' legislative and administrative frameworks, transparency, notification obligations, and fisheries management policies.
The fund, managed by the WTO in partnership with organizations like the FAO, the International Fund for Agricultural Development, and the World Bank Group, will offer crucial technical assistance and capacity building. This collaboration will leverage expertise across organizations, ensuring effective implementation and a positive impact on global fishery sustainability.
