Bahrain Formally Accepts Agreement
on Fisheries Subsidies
On
28 April, WTO Director-General Ngozi Okonjo-Iweala received
Bahrain’s instrument of acceptance of the Agreement on Fisheries Subsidies from
Bahrain’s Ambassador Abdulla Abdullatif ABDULLA at the WTO. Bahrain is the 97th
WTO member to deposit its acceptance of the Agreement.
DG
Okonjo-Iweala said: "I thank Bahrain for adding its
support to WTO members' efforts to preserve global fish stocks and the livelihoods
that depend on them. The submission of Bahrain's acceptance brings us a step closer
to the entry into force of this historic Agreement that will benefit people, oceans
and the planet. I encourage other governments to ratify the Agreement swiftly -
only 14 more acceptances are needed for it to become part of the WTO framework!"
Ambassador
Abdulla said: “The Kingdom of Bahrain is pleased to deposit its instrument of acceptance
of the WTO Agreement on Fisheries Subsidies. This step reaffirms Bahrain’s support
for the multilateral trading system and its continued engagement in international
efforts to promote the sustainable use of marine resources.
As
a country with a long-standing maritime heritage, Bahrain attaches particular importance
to the preservation of ocean ecosystems and the fair governance of global fisheries.
The ratification of this agreement is also aligned with the Kingdom’s broader commitment
to sustainable development and economic diversification, as set out in Bahrain Economic
Vision 2030.
We
commend the collective efforts of WTO members in concluding this agreement and look
forward to continued cooperation toward its entry into force and effective implementation.”
For
the Agreement to enter into force, formal acceptances from two-thirds of WTO members
are required – representing a total of 111 members. The full list of WTO members
which have deposited their instruments of acceptance is available here.
At
the WTO's 12th Ministerial Conference (MC12) held in Geneva in June 2022, ministers
adopted by consensus the Agreement on Fisheries Subsidies,
setting new, binding, multilateral rules to curb harmful fisheries subsidies.
The Agreement prohibits subsidies for illegal, unreported and unregulated fishing,
for fishing overfished stocks, and for fishing on the unregulated high seas. Ministers
also recognized the needs of developing economies and least-developed countries
by establishing a fund to provide technical assistance and capacity-building
to help them implement the new obligations
if they have formally accepted the Agreement.
WTO
members also agreed at MC12 to continue negotiating on outstanding fisheries subsidies
issues with a view to further strengthening the Agreement's disciplines.