UAE Becomes 7th Nation to Accept Fisheries Deal
The United Arab Emirates formally accepted the Agreement on Fisheries Subsidies, making it the seventh World Trade Organization member to deposit its instrument of acceptance. The trade body requires a two-thirds threshold for the agreement to come into effect. The U.S., Canada, Iceland, Seychelles, Singapore and Switzerland previously accepted the agreement (see 2305100009).
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"I am grateful for the United Arab Emirates' formal acceptance of the Agreement on Fisheries Subsidies," WTO Director-General Ngozi Okonjo-Iweala said May 16. "As host of the upcoming 13th Ministerial Conference to be held in February 2024, and with its affirmation of this historic agreement for healthier oceans, the UAE is providing invaluable support for the work of the WTO and its continuing efforts to ensure the multilateral trading system contributes to sustainable development."