China Joins WTO Fisheries Subsidies Agreement

China, the world's leading marine fishing producer, officially accepted the WTO Agreement on Fisheries Subsidies on June 27. The Agreement aims to promote marine sustainability by curbing harmful fishing subsidies.

China is responsible for nearly 40 percent of the world's fishing and aquaculture.   The WTO Director-General, Ngozi Okonjo-Iweala, received the instrument of acceptance from China's Commerce Minister, Wang Wentao. "China's support is crucial for the Agreement's success," said Okonjo-Iweala.

In addition to sustainability, the Agreement assists developing and least-developed countries with a dedicated fund for technical assistance and capacity-building.

The Fisheries Subsidies Agreement is the WTO's second multilateral agreement since its founding in 1995. Wang affirmed China's commitment to the Agreement, expressing readiness for the second phase of negotiations.

Adopted unanimously at the WTO's 12th Ministerial Conference in June 2022, the Agreement curtails support for illegal, unregulated fishing, restricts aid for overfishing, and ends subsidies for unregulated high-seas fishing.

For the Agreement to come into effect, acceptances from two-thirds of WTO members are needed. Further negotiations on outstanding issues are scheduled, with recommendations to be made at MC13 in February 2024.