India Joins WTO Agreement on Fisheries Subsidies

India has formally joined the World Trade Organization's Agreement on Fisheries Subsidies by depositing its instrument of acceptance, adding to the growing number of members ratifying the landmark multilateral pact. The agreement was concluded at the WTO's 12th Ministerial Conference (MC12) held in Geneva in June 2022 after nearly two decades of negotiations.

The agreement establishes binding disciplines to curb subsidies that contribute to illegal, unreported and unregulated (IUU) fishing, as well as those that support fishing of overfished stocks and fishing on the unregulated high seas. It represents one of the few WTO outcomes framed explicitly around environmental sustainability and the conservation of marine resources.

The pact incorporates provisions for special and differential treatment for developing and least-developed countries, allowing them transition periods and policy space to protect the livelihoods of small-scale and artisanal fishers. India, which has consistently advocated for the interests of its coastal fishing communities during the negotiations, has stressed the importance of these safeguards.

For the agreement to enter into force, acceptance by two-thirds of the WTO membership is required. Each additional ratification, including India's, moves the treaty closer to that threshold. Negotiations on a second wave of disciplines, addressing subsidies that contribute to overcapacity and overfishing, are continuing among members.

Key Points

• The WTO Agreement on Fisheries Subsidies was concluded at MC12 in Geneva, June 2022.
• It curbs subsidies linked to IUU fishing, overfished stocks and unregulated high-seas fishing.
• The pact includes special and differential treatment for developing and least-developed countries.
• Entry into force requires acceptance by two-thirds of the WTO membership.
• It is regarded as a rare WTO outcome centred on environmental sustainability.