Kuwait has taken a significant step toward promoting sustainable global trade by officially accepting the Agreement on Fisheries Subsidies. On October 22, Ambassador to the WTO, Nasser Abdullah Al-Hayen, presented the instrument of acceptance to Director-General Ngozi Okonjo-Iweala. This important milestone increases the total number of World Trade Organization (WTO) members who have embraced the agreement to 86.
Director-General Okonjo-Iweala praised Kuwait’s proactive involvement, noting that it marks the seventh acceptance from the Arab region. “As a key importer of marine fish products, Kuwait’s commitment enhances our collective efforts to ensure sustainable fisheries worldwide,” she stated. The agreement is designed to eliminate illegal, unreported, and unregulated (IUU) fishing, which is crucial for enhancing global food security and fostering fair trade practices.
Ambassador Al-Hayen reaffirmed Kuwait’s strong support for multilateral trade and sustainable fishing practices. He emphasized that this acceptance reflects Kuwait’s dedication to promoting fair international trade while protecting vital fishery resources. “Kuwait recognizes the importance of this agreement in combating illegal fishing and preserving marine ecosystems, aligning with our responsibilities under the United Nations Sustainable Development Goal 14,” he said.
In his remarks, Al-Hayen also commended the WTO’s ongoing initiatives to tackle pressing global challenges. “A unified commitment to environmental sustainability and collaborative efforts are essential for securing a prosperous future for generations to come. Kuwait is eager to collaborate with all WTO members to effectively implement this vital agreement,” he added.
As the fourth Gulf Cooperation Council (GCC) member to formally accept the Agreement, Kuwait reinforces its leadership in sustainable trade practices. To bring the Agreement into force, 25 more formal acceptances are required to achieve the two-thirds majority of WTO members.
Adopted by consensus during the WTO’s 12th Ministerial Conference (MC12) in June 2022, the Agreement on Fisheries Subsidies establishes new, binding, multilateral rules aimed at curtailing harmful subsidies that threaten global fish stocks. Furthermore, the agreement prioritizes the needs of developing and least-developed countries by creating a fund for technical assistance and capacity-building to help them meet the new obligations.
In addition to these commitments, WTO members agreed to continue negotiations on outstanding issues, with the aim of adopting further provisions that will enhance the Agreement’s effectiveness and support sustainable trade practices worldwide.
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