North Macedonia formally accepts Agreement on Fisheries Subsidies
DG Okonjo-Iweala said: “I'm grateful for North Macedonia's formal acceptance of the Agreement on Fisheries Subsidies. While a landlocked country, North Macedonia's acceptance demonstrates its commitment to the multilateral trading system and the WTO, and underscores all members' shared interest in responsible fisheries resource management, ocean sustainability, and food security. This acceptance provides further momentum for the entry into force of this important agreement for people and the planet.”
Mr. Bilali said: “By joining this agreement, North Macedonia reaffirms its dedication to the conservation of marine resources and the fight against harmful subsidies that contribute to overfishing.”
North Macedonia's instrument of acceptance brings to 91 the total number of WTO members that have formally accepted the Agreement. Twenty 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.
Adopted by consensus at the WTO's 12th Ministerial Conference (MC12), held in Geneva on 12-17 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 (IUU) 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.
The full text of the Agreement can be accessed here. The list of members that have deposited their instruments of acceptance is available here. Information for members on how to accept the Protocol of Amendment is available here.
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