China Adopts WTO Deal on Fisheries Subsidies
China formally accepted the World Trade Organization's Agreement on Fisheries Subsidies June 27. The deal, struck at the 12th Ministerial Conference and requiring a two-thirds majority for ratification, imposes rules to crack down on subsidies for illegal, unreported and unregulated fishing.
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"As the world leader in marine fish catch, China's support for the implementation of this agreement is critical to multilateral efforts to safeguard oceans, food security, and livelihoods," WTO Director-General Ngozi Okonjo-Iweala said. "By curbing harmful fishing subsidies worldwide, we can together forge a path towards a legacy of abundance and opportunity for generations to come.”
China's Commerce Minister Wang Wentao said the deal is a "significant agreement to boost the confidence of all members in multilateralism," adding that China will work to bring the agreement into force before MC13. "At the same time, China will participate in the second phase of negotiations in a positive and constructive manner and look forward to an early outcome of the negotiations.” MC13 is scheduled for February in Abu Dhabi.