Canada became the fifth country to accept the World Trade Organization (WTO) Agreement on Fisheries Subsidies, Global Affairs Canada said on Tuesday
WASHINGTON (Pakistan Point News / Sputnik - 02nd May, 2023) Canada became the fifth country to accept the World Trade Organization (WTO) Agreement on Fisheries Subsidies, Global Affairs Canada said on Tuesday.
"The Honourable Mary Ng, Minister of International Trade, Export Promotion, Small business and Economic Development, announced today that Canada has formally accepted the WTO Agreement on Fisheries Subsidies," Global Affairs Canada said in a statement.
By accepting it, Canada officially became the fifth member state to do so, the statement said, noting that the agreement will only be enforced once two-thirds of the WTO signatories have accepted it.
Ng, in the same release, said the WTO's Agreement on Fisheries Subsidies will help ensure the sustainability of fishing operations around the globe.
The Canadian government remains committed to strengthening the so called "rules-based" international trade system, Ng continued, noting that the agreement will allow countries to act against illegal fishing activities.
The WTO Agreement on Fisheries Subsidies was adopted at the 12th Ministerial Conference held in June 2022. Its goals range from fighting against "harmful" subsidies notably related to illegal fishing, to ensuring the industry's sustainability.
