Monday, September 25, 2023

The EU contributes €1 million to the aid of the WTO to sustainable fishing

The European Union will contribute one million euros to the aid fund created within the framework of the World Trade Organization (WTO) to curb subsidies that promote overfishing in exchange for supporting the development of sustainable fishing in developing countries development and vulnerable.

The objective of this new instrument put in place in November of last year is to ensure that the least advanced countries in sustainable fishing methods have the necessary technical assistance and better means to fulfill the ambition of ending practices that are detrimental to the survival of fishing grounds. .

“The agreement on fisheries subsidies marked a big step first and foremost for the sustainability of the oceans because it prohibits subsidies to harmful fishing, which is a key factor in the widespread depletion of fish stocks around the world,” he said. the Economic Vice President and Head of Trade at the European Commission, Valdis Dombrovkis.

In an announcement released while participating in the Davos Economic Forum, Dombrovskis has warned that it is essential that all WTO members, “regardless of their resources or level of development,” put into practice the provisions of this agreement. “as soon as possible”.

With the contribution of one million euros to the financial mechanism created within the framework of this agreement, said the community vice-president, the EU supports those countries that lack the technical knowledge or the necessary instruments to do it on their own.

It has also called on other WTO partners who can also contribute to follow the example of the EU: “Together we can contribute to more sustainable fishing throughout the world.”


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