Syllabus: GS-III
Subject:Trade and External sector
Topic: WTO & its issues
Issue: Fisheries Subsidies at WTO
Context:Upcoming WTO’s 13th Ministerial Conference (MC13) in Abu Dhabi.
Curbing fishery subsidies:
- Developed nations are demanding to curb fishery subsidies that contribute to overcapacity and overfishing.
- However,developing nations,including India insist on specific carve outs to protect its resource-poor fishers and preserve the space to develop its deep sea capacities like developed countries.
- India has demanded it as part of special & differential treatment for developing nations that
- poor fishers should be exempt from all subsidy cuts irrespective of where they fish,
- And all fishers in developing nations should be exempt from subsidy cuts for fishing within the exclusive economic zone (EEZ) of 200 nautical miles.
- A 25 year exemption to developing nations from subsidy cuts for fishing in waters beyond EEZ that will help them to develop their fishing capacities.
A partial agreement “Agreement on Fisheries Subsidies” on curbing harmful fisheries subsidies, to curb illegal, unreported and unregulated fishing, was agreed to at the previous WTO MC12 “Geneva package” in 2021.
| World Trade Organization (WTO)It is an intergovernmental organization that regulates and facilitates international trade between its member countries. What it does?
WTO Ministerial Conference is the highest decision-making body which meets every two years or more. |
