GUATEMALA CITY – Guatemala deposited its instrument of acceptance of the Agreement on Fisheries Subsidies on 10 March. Ambassador Eduardo Ernesto Sperisen-Yurt presented Guatemala’s instrument of acceptance to director-general Ngozi Okonjo-Iweala.
“I warmly welcome Guatemala’s formal acceptance of the Agreement on Fisheries Subsidies. Guatemala’s diverse marine ecosystems illustrate how thriving fisheries matter for biodiversity, food security, and employment in coastal communities. This commitment is an important step to bolster environmental and economic resilience in Guatemala and around the world. Only 19 more formal acceptances are needed for the Agreement to enter into force,” said director-general Okonjo-Iweala.
“By accepting the WTO Agreement on Fisheries Subsidies, Guatemala reaffirms its commitment to the sustainability and responsible governance of marine resources. In depositing our instrument of acceptance, Guatemala joins the international community in the fight against illegal, unreported and unregulated fishing, recognizing the importance of the fisheries sector for the food security and economic development of the country,” said ambassador Sperisen-Yurt.
“This step reflects Guatemala’s strong support for multilateralism and its vision of a more sustainable future for generations to come. We invite other WTO Members to deposit their instruments of acceptance, thus enabling the early entry into force of this Agreement and allowing us to move together towards the sustainability of marine resources.”
Guatemala’s instrument of acceptance brings to 92 the total number of WTO members that have formally accepted the Agreement. Nineteen more formal acceptances are needed for the Agreement to come into effect. The Agreement will enter into force upon acceptance by two-thirds of the membership.
Adopted by consensus at the WTO’s 12th Ministerial Conference (MC12), held in Geneva on 12-17 June 2022, the Agreement on Fisheries Subsidies sets new, binding, multilateral rules to curb harmful subsidies, which are a key factor in the widespread depletion of the world’s fish stocks. In addition, the Agreement recognizes the needs of developing economies and least-developed countries and establishes a fund to provide technical assistance and capacity building to help them implement the obligations.
The Agreement prohibits subsidies for illegal, unreported and unregulated (IUU) fishing, for fishing overfished stocks, and for fishing on the unregulated high seas.
Members also agreed at MC12 to continue negotiations on outstanding issues, with a view to adopting additional provisions that would further enhance the disciplines of the Agreement.
The full text of the Agreement can be accessed here. The list of members that have deposited their instruments of acceptance is available here. Information for members on how to accept the Protocol of Amendment is available here.