Toronto (Canada), May 2. On Tuesday, Canada announced the ratification of the international agreement to eliminate harmful fishing subsidies that was approved in June 2022 at the 12th Ministerial Conference of the World Trade Organization (WTO).
Canada is the fifth country to ratify the agreement, after the United States, Switzerland, Singapore and Seychelles.
Canadian Fisheries Minister Joyce Murray said in a statement that the agreement will “help” Canada combat “illegal, unrecorded and unregulated fishing.”
“Canada recognizes the global need to conserve and sustainably use ocean resources. Acceptance of the WTO Agreement on Fisheries Subsidies reinforces our commitment to high international standards,” he added.
The agreement, which is the result of 21 years of negotiations by the 164 countries that are part of the World Trade Organization, will enter into force when it is ratified by two-thirds of all members of the international body.
Once ratified, states would have to ban subsidies to those vessels and operators who engage in illegal, unreported practices not subject to international regulations, as well as suspend assistance in hunting overexploited species. EFE
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