Syllabus: GS-III, Subject: Economy, Topic: Trade and External sector, Issue: Fisheries Subsidies
Context: WTO negotiation session on fisheries subsidies in the Abu Dhabi Ministerial Conference-13.
Fisheries Subsidies:
- India urged for a moratorium on subsidies for fishing beyond the exclusive economic zone (EEZs).
- Current approaches for addressing “Over Capacity and Over Fishing” (OCOF) are deeply flawed.
- Any agreement on fisheries subsidies should be built on the principle of Common But Differentiated Responsibilities and Respective Capabilities (CBDR- RC).
- Sovereign rights of members for sustainable management of fisheries within their Exclusive Economic Zones should be protected.
Agreement on Fisheries Subsidies – Geneva Package MC 12 : Prohibited harmful fisheries subsidies that contribute to overfishing and depletion of fish stocks.
| United Nations Convention on the Law of the Sea (UNCLOS):
An international agreement that establishes a legal framework for all marine and maritime activities.
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