The World Trade Organization (WTO) Fisheries Subsidies Agreement officially entered into force on September 15.
At the Ministry of Commerce's regular press conference held on September 18, MOFCOM spokesperson He Yadong responded that global fisheries governance is a topic of high concern to the international community. On September 15, the WTO's first agreement aimed at achieving environmental sustainability goals - the Fisheries Subsidies Agreement - officially entered into force and implementation. This is a significant event for the multilateral trading system and global fisheries governance, with profound implications.
He Yadong noted that for the WTO, the Fisheries Subsidies Agreement was reached at the WTO's 12th Ministerial Conference in June 2022, representing the longest-negotiated multilateral agreement in WTO history, having undergone an extremely arduous and complex negotiation process.
"Against the backdrop of the WTO currently facing severe challenges from unilateralism, this agreement entered into force in just over three years. This represents collective action by the vast majority of WTO members, including China, in firmly defending the WTO and actively fulfilling multilateral commitments. It powerfully boosts the WTO's relevance and authority, significantly enhances international confidence in the WTO, and will inject new momentum into all aspects of the WTO's work," He Yadong stated.
He Yadong explained that the Fisheries Subsidies Agreement establishes binding multilateral disciplines on subsidies, requiring all members to fulfill obligations including transparency in fisheries subsidies and management policies, and improving capabilities in fisheries law enforcement and sustainable assessment of fisheries resources. The implementation of the agreement will help promote sustainable development of global fisheries and enhance members' capabilities for long-term scientific conservation and sustainable development of fisheries resources.
WTO Director-General Ngozi Okonjo-Iweala stated on September 15 that the agreement's entry into force is a landmark event in global governance and an important public good provided by the multilateral trading system to address global challenges.
Okonjo-Iweala expressed: "At a time when the international trading system faces severe challenges, the Fisheries Subsidies Agreement sends a powerful signal that WTO members can work together in a spirit of cooperation and shared responsibility to jointly address global challenges. The entry into force of this agreement reminds us that many of the major challenges we face can be more effectively addressed at the multilateral level. People and nations need a workable multilateralism, which is precisely why today is so encouraging."
According to data provided by the WTO, in 2021, 35.5% of global fish stocks were overfished, compared to 10% in 1974. It is estimated that global annual subsidies for marine fishing activities amount to $35 billion. Of this, approximately $22 billion is considered harmful, leading to the depletion of marine resources.
He Yadong stated that China is a major global marine fishing nation and an active advocate and practitioner of global fisheries sustainable development. China approved and accepted the agreement on June 27, 2023, being among the first major WTO members to complete the ratification process. Using the WTO as a platform, we actively practice global governance initiatives and participate deeply in multilateral fisheries governance. After the agreement's entry into force and implementation, China will conscientiously fulfill all obligations under the agreement and work together with other WTO members to jointly maintain the sustainable development of global marine resources, strive to build a maritime community with a shared future, and contribute to achieving the UN 2030 Sustainable Development Goals.