ZURICH (Pakistan Point News / Sputnik - 31st August, 2021) The World Trade Organization (WTO) announced on Monday it will resume negotiations on fisheries subsidies this Wednesday.
In mid-July, trade ministers from the WTO member countries discussed the text of the rules for subsidizing fisheries. The draft agreement stipulates a ban on subsidies that result in excessive hauls. It also proposed to prohibit subsidies for ships or operators engaged in illegal, unregistered and unregulated fishing.
"WTO members are resuming negotiations on fisheries subsidies after the August break under an intensified programme of meetings beginning on 1 September," the organization said in a statement, adding that the first stage of the talks will be dedicated to improving the text of the draft agreement through various negotiation formats.
The second stage will take place on October 11-29 and involve the chair of negotiations, Ambassador Santiago Wills of Colombia, holding daily meetings with the members, going through point-by-point to produce a final version of the text.
The final draft is expected to be complete before the 12th WTO Ministerial Conference, scheduled to take place from November 30 to December 3.
The discussion on the matter has been going on for twenty years, intensifying in 2015 after the United Nations adopted its sustainable development agenda, which involved banning some forms of fisheries subsidies by 2020.
