In the upcoming 13th Ministerial Conference (MC) of the World Trade Organization (WTO), scheduled from February 26th to 29th, 2024, India is set to reinforce its commitment to champion the fishing interests of less-developed nations. Parshottam Rupala, Union Minister for Animal Husbandry, Dairying, and Fisheries, emphasized India’s recognition of its broader global responsibilities in the field.
This follows the outcomes of the WTO MC-12 held in June 2022, where pivotal agreements were reached to address the challenges of unreported and unregulated fishing on a global scale. The MC-12 decisions included the implementation of stringent controls on overfished areas, aiming for the restoration of fish stocks. Notably, it was agreed that subsidies for fishing beyond Exclusive Economic Zones (EEZs) or Regional Fisheries Management Organizations (RFMOs) would be discontinued.
Building on these commitments, India aims to underscore its dedication to the Agreement on Fisheries Subsidies during the upcoming MC-13. The Agreement, established at the WTO Ministerial meeting, explicitly prohibits subsidies for Illegal, Unreported, and Unregulated (IUU) fishing and overfished stocks. A crucial aspect of the agreement is the provision of a two-year transition period for Developing and Least Developed Countries (LDCs) from the agreement’s entry into force.
The Agreement permits subsidies for fishing activities related to overfished stocks, but with the condition that they contribute to rebuilding the stock to a biologically sustainable level. However, IUU fishing vessels or operators are slated to face a comprehensive subsidy ban, signaling a robust stance against unsustainable fishing practices.
India’s proactive stance on fisheries sustainability aligns with the global community’s efforts to create a more responsible and ecologically sound approach to fishing practices. The conference in Abu Dhabi is anticipated to provide a platform for collaborative efforts towards achieving a more sustainable and equitable global fishing industry.
Source: CNBC-TV18
