KARACHI: The World Trade Organisation (WTO) has said that Pakistan has formally accepted the Agreement on Fisheries Subsidies.

Pakistan’s Ambassador to the WTO Ali Sarfaraz Hussain presented the instrument of acceptance to WTO Director-General Ngozi Okonjo-Iweala on Thursday, according to the information on the WTO website.

The WTO DG said Pakistan’s formal acceptance of the agreement marks a vital step toward ensuring the long-term sustainability of global marine resources, while safeguarding the livelihoods and food security of the millions of people who depend on healthy fisheries.

“By joining this collective effort, Pakistan demonstrates its commitment to its coastal communities and the environment and becomes eligible for resources from our Fish Fund. I encourage the remaining WTO members to follow suit swiftly — we need only 17 more,” she added.

Becomes eligible for resources under WTO’s Fish Fund

Ambassador Hussain said Pakistan is delighted to deposit its instrument of ratification for the WTO agreement. It reflects the unwavering commitment of the Government of Pakistan to safeguard our marine resources, a vital component of our national economy and the livelihoods of our coastal communities.

He said Pakistan ecognises the critical role this agreement can play in curbing harmful fishing practices and ensuring the long-term health of our oceans. “We urge all WTO members to join us in this essential global effort,” he said.

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. It 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 June 12-17, 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 recognises the needs of developing economies and least-developed countries. It establishes a fund to provide technical assistance and capacity building to help them implement the obligations.

The agreement prohibits subsidies for illegal, unreported, unregulated fishing, overfished stocks, and fishing on the unregulated high seas.

Members also agreed at MC12 to continue negotiations on outstanding issues and to adopt additional provisions that would further enhance the disciplines of the agreement.

Published in Dawn, March 21st, 2025