The 13th Ministerial Conference of the World Trade Organization (WTO) in Abu Dhabi grapples with securing progress on further regulating harmful fisheries subsidies. While the 2022 meeting yielded a landmark agreement addressing illegal and overfished stocks, the current discussions focus on the remaining pillar: subsidies contributing to overcapacity.
Developed nations, like the European Union, advocate for stricter regulations, arguing that overcapacity fuels overfishing, a major threat to ocean sustainability. The EU cites a 2020 report by the Organisation for Economic Co-operation and Development (OECD) estimating that global government support to fisheries reached $20 billion annually, with roughly a third contributing to overcapacity. They emphasize the urgency of closing these loopholes to protect marine life and ensure fair competition.
Developing countries, including India, express concerns about the potential impact on their livelihoods. India, boasting a vast and diverse fishing community, stresses the importance of balancing conservation efforts with the welfare of their fishermen. They argue that certain subsidies, particularly those directed towards fuel efficiency or safety improvements, contribute to sustainable fishing practices and shouldn't be curtailed.
The WTO has facilitated intensive discussions throughout "Fish Month" in January and February, culminating in a draft text for ministers to consider in Abu Dhabi. The text aims to bridge the gap between different perspectives, proposing a tiered approach to tackling overcapacity subsidies. Under this model, stricter regulations would apply to larger fishing vessels and those operating in shared stocks, while acknowledging the specific needs of developing countries, particularly least-developed and small island developing states.
Finding common ground is crucial. While over 60 WTO members have already accepted the 2022 agreement, reaching the two-thirds threshold required for entry into force necessitates broader participation. The success of the Abu Dhabi negotiations could determine not only the effectiveness of the agreement but also set the tone for future collaborations on safeguarding the world's oceans.