Japan Accepts WTO Fisheries Subsidies Deal
Japan formally accepted the World Trade Organization fisheries subsidies deal, which imposes restrictions on subsidies for illegal, unreported and unregulated fishing. Japan's pushes the number of acceptances to more than a third of the two-thirds majority needed for ratification, the WTO said July 4.
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"This significant step forward holds great importance considering Japan's status as a prominent fishing nation and as a steadfast supporter of the WTO and the multilateral trading system," WTO Director-General Ngozi Okonjo-Iweala said. "As we continue to navigate the challenges posed by overfishing and the depletion of fish stocks, the active participation of Japan and the wider WTO membership will be crucial.”