Speakers highlighted that, if agreed, the long-awaited deal on fisheries subsidies could support a much-needed transition towards more sustainable fisheries across the globe, with tangible benefits for the environment.
Panellists also discussed the support needed by developing countries to prepare for implementation.
A discussion on the state of play of WTO talks towards an agreement on discipling fisheries subsidies considered impacts on inequality in the fisheries sector and social inclusion in fishing communities. Panellists also discussed the support needed by developing countries to prepare for implementation, and presented a self-assessment tool to help countries assess their support needs and readiness to implement the new obligations.
The event took place as part of IISD’s TRADE + SUSTAINABILITY HUB. The Hub took place from 1-3 December 2021, and convened over 50 partners, 150 speakers, and 1800 registered participants from civil society, government, business, and international organizations to discuss how to ensure trade policies contribute to sustainable development. The Hub was scheduled to coincide with the World Trade Organization’s (WTO) Twelfth Ministerial Conference and took place virtually despite the last-minute postponement of MC12.
Speakers highlighted that, if agreed, the long-awaited deal on fisheries subsidies could support a much-needed transition towards more sustainable fisheries across the globe, with tangible benefits for the environment. This will require WTO members to both find consensus on the shape of the new disciplines, as well as effectively implementing the resulting commitments domestically. According to Isabel Jarrett of Pew Charitable Trust, the ambitious new disciplines have the potential to result in a 12.5% rise in fish biomass.
However, according to Gustav Brink of Trade Remedies Unlimited, adequately controlling subsidies is a difficult task. This is evident from the fact that many trade disputes revolve around rules from the Agreement on Subsidies and Countervailing Measures.
In the event that marine ecosystems continue to deteriorate, feeding people will become much more challenging. Going forward, it was emphasised that collecting economic and biological data will be urgently needed to fill knowledge gaps, inform the agreement as well as relevant implementation policies and legislations. Such data could also be used in an evaluation framework towards assessing Members’ adherence and progress.
This article was authored by Ely Kanene, CUTS International