Pakistan ratifies WTO agreement on fisheries subsidies, first on ocean sustainability
ISLAMABAD: Pakistan this week accepted the World Trade Organization’s Agreement on Fisheries Subsidies, the first WTO agreement with an environmental objective at its core, prohibiting subsidies that contribute to illegal, unreported, and unregulated (IUU) fishing, overfishing, and fishing on the unregulated high seas.
The Agreement on Fisheries Subsidies was adopted by the WTO in June 2022. Pakistan, with its extensive coastline along the Arabian Sea, relies heavily on fisheries for food security, employment and exports. However, the sector faces challenges due to overfishing, lack of regulation and inadequate infrastructure. The country provides subsidies to support small-scale fishers including fuel subsidies, tax exemptions and financial aid.
Pakistan’s instrument of acceptance brings to 94 the total number of WTO members that have formally accepted the agreement. Seventeen more formal acceptances are needed for the agreement to come into effect. The agreement will enter into force upon acceptance by two-thirds of the membership.
“Pakistan deposited its instrument of acceptance of the Agreement on Fisheries Subsidies on Mar. 20,” the WTO said in a statement on Thursday. “Ambassador Ali Sarfraz Hussain presented Pakistan’s instrument of acceptance to Director-General Ngozi Okonjo-Iweala.”
Iweala said the move was a vital step toward ensuring long-term sustainability of global marine resources while safeguarding the livelihoods of millions dependent on healthy fisheries.
“By joining this collective effort, Pakistan demonstrates its commitment to its coastal communities and the environment, and it becomes eligible for resources from our Fish Fund,” she said. “I encourage the remaining WTO members to swiftly follow suit – we need only 17 more.”
Hussain said the depositing of the instrument of ratification reflected the government’s commitment to safeguard marine resources.
“We recognize the critical role that this agreement can play in curbing harmful fishing practices and in ensuring the long-term health of our oceans,” the report quoted the ambassador as saying. “We urge all WTO members to join us in this essential global effort.”
With the adoption of the agreement, Pakistan must now align its policies to restrict harmful subsidies while ensuring support for sustainable fishing practices. Strengthening fisheries management, enforcing regulations and investing in marine conservation will be key to balancing economic and environmental priorities, experts say.
