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WORLD TRADETN/RL/W/195 22 November 2005ORGANIZATION(055521)Negotiating Group on RulesDRAFT MINISTERIAL DECLARATION ON RULES (AD/SCM INCLUDING FISHERIES SUBSIDIES) Note from the Chairman The following
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Countries that are members of the World Trade Organization and have fisheries subsidies that need to be regulated.
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The World Trade Organization Agreement on Fisheries Subsidies is an international agreement aimed at prohibiting certain types of subsidies that contribute to overfishing and overcapacity in fisheries, promoting sustainable fishing practices.
Countries that are members of the World Trade Organization (WTO) are required to report on fisheries subsidies that they provide to their fishing industries.
To fill out the agreement requirements, member countries must gather data on their fisheries subsidies, classify them according to the WTO's guidelines, and submit the information in the specified format to the WTO.
The purpose of the agreement is to promote sustainable fisheries management, eliminate harmful subsidies, and support efforts to maintain the health of global fish stocks.
Countries must report on the types and amounts of subsidies provided, their specific purposes, and how they relate to fishing activities and sustainability measures.
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