Kuwait formally accepts Agreement on Fisheries Subsidies
Kuwait’s WTO Ambassador Nasser Abdullah Al-Hayen presented his country’s instrument of acceptance of the Agreement on Fisheries Subsidies to Director-General Ngozi Okonjo-Iweala on 22 October. This brings to 86 the total number of WTO members that have formally accepted the Agreement.
Director-General Okonjo-Iweala said: “I warmly welcome Kuwait’s instrument of acceptance of the Agreement on Fisheries Subsidies – the seventh received from the Arab region. As a significant importer of marine fish products, Kuwait is making a key contribution towards the sustainability of marine fisheries by committing to implement the agreement. Eliminating illegal, unreported and unregulated (IUU) fishing activities is essential to advancing global food security.”
Reaffirming Kuwait’s support for the multilateral trading system and for sustainable fishing practices, H.E. Al-Hayen emphasized that Kuwait’s actions reflect a commitment to promote fair and sustainable international trade, while also contributing to the preservation of global fishery resources. “Kuwait recognizes the importance of this agreement in combating illegal fishing practices and protecting marine ecosystems, aligning with its obligations under the United Nations Sustainable Development Goal 14,” he stressed.
Commending the WTO’s ongoing efforts in addressing global challenges, Ambassador Al-Hayen also said: “A shared commitment to environmental sustainability and multilateral cooperation is crucial to secure the future of the next generations. Kuwait stands ready to collaborate closely with all WTO members to ensure the successful implementation of this vital agreement.”
Kuwait is the fourth Gulf Cooperation Council member to have formally accepted the Agreement. A total of 25 more formal acceptances are needed to reach two-thirds of the WTO membership required for its entry into force.
Adopted by consensus at the WTO’s 12th Ministerial Conference (MC12) held in Geneva in June 2022, the Agreement on Fisheries Subsidies sets new, binding, multilateral rules to curb harmful subsidies, which are a key factor in the widespread depletion of the world’s fish stocks. In addition, the Agreement recognizes the needs of developing economies and least-developed countries and establishes a fund to provide technical assistance and capacity-building to help them implement the obligations.
The Agreement prohibits subsidies for illegal, unreported and unregulated fishing, for fishing overfished stocks, and for fishing on the unregulated high seas.
Members also agreed at MC12 to continue negotiations on outstanding issues, with a view to adopting additional provisions that would further enhance the disciplines of the Agreement.
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