The Hon Pat Conroy MP, Minister for Pacific Island Affairs
This week, the World Trade Organization's first Agreement to bolster sustainable fishing starts – an initiative championed by Australia with Pacific WTO Members.
This is the first multilateral trade treaty with an explicitly environmental objective, which responds to the UN Sustainable Development Goal 14.6 on ocean sustainability.
The Agreement on Fisheries Subsidies prohibits harmful subsidies relating to illegal, unreported and unregulated (IUU) fishing, the fishing of overfished stocks, and fishing on the unregulated high seas; a key priority for Pacific Island countries. Australia, together with Pacific partners, played a pivotal role in securing the Agreement at the 12th WTO Ministerial Conference in 2022.
The UN Food and Agriculture Organization estimates that over one-third of global fish stocks are currently overfished. Of the $16.2 billion (AUD) that governments spend each year in support to the fishing industry, 65 per cent risks encouraging overfishing and illegal fishing.
The Agreement's entry into force also unlocks the benefits of the WTO Fisheries Funding Mechanism (the "Fish Fund'), which will provide targeted technical assistance and capacity building to help developing and least-developed countries implement the Agreement. Australia was a founding donor to the Fish Fund, contributing $2 million (AUD).
WTO Members have agreed to continue negotiating further restrictions on subsidies that contribute to overcapacity and overfishing within four years.
Quotes attributable to Senator the Hon Don Farrell, Minister for Trade and Tourism:
"I am proud of the role Australia played in delivering the groundbreaking Agreement on Fisheries Subsidies.
"Its entry into force represents a significant achievement for the Pacific region, for environmental sustainability and for the WTO – which remains the preeminent forum for creating, monitoring and enforcing global trade rules."
Quotes attributable to the Hon Pat Conroy MP, Minister for Pacific Island Affairs:
"This treaty, which was developed with Pacific partners, is great news for our region.
"The jobs and economic development opportunities created by fishing are critical to many Pacific communities.
"I welcome this acknowledgement of the important role that governments must play in supporting sustainable fishing and protecting the marine environment."