International Agreement on Overfishing Takes Effect

The international agreement to limit subsidies that encourage overfishing has come into effect. The agreement, the product of 20 years of negotiations, restricts fishing in international waters and the overexploitation of species.

The agreement, the first to be activated at the World Trade Organization since 2017, came into force after being ratified by Brazil, Kenya, Tonga, and Vietnam.

Governments are now prohibited from subsidizing the fishing of species threatened with collapse, as well as fishing in international waters outside their jurisdiction. Poorer countries will have access to a special fund to help them adapt to the new rules.

A 2019 study estimates that government subsidies for fishing fleets amount to $35.4 billion, with China, the EU, the US, and South Korea holding the top positions.

The agreement will expire if no progress is made in negotiations for a more comprehensive framework of rules. The WTO Director-General, Ngozi Okonjo-Iweala, expressed optimism about reaching a new agreement.