Sri Lanka accepts WTO Agreement on Fisheries Subsidies, four remaining for entry into force

DG Okonjo-Iweala said: "Through the Agreement on Fisheries Subsidies, WTO members are coming together to invest in a sustainable future for our oceans. I am very grateful to Sri Lanka for its ratification, which paves the way for an imminent entry into force of this historic agreement. Only four more acceptances to go!"

Ambassador Wijesekara said: "It is a great honour for Sri Lanka to deposit its instrument of acceptance for the WTO Agreement on Fisheries Subsidies. In doing so, we reaffirm our commitment to responsible stewardship of our oceans — a commitment deeply rooted in our national policy of “Thriving Nation and a Beautiful Life.”

The fisheries sector is not only vital for our food security and livelihoods but also central to our cultural heritage. By ratifying this agreement, we are aligning our national laws with global disciplines to combat illegal, unreported and unregulated fishing and to protect overfished stocks. This step strengthens Sri Lanka’s role in the global effort to conserve marine biodiversity. We look forward to working closely with the WTO and benefiting from the Fisheries Fund to build the capacity of our fishing communities. Through this agreement, we can ensure that future generations inherit oceans that are abundant, healthy and sustainably managed."

Formal acceptances from two-thirds of WTO members are required for the Agreement to enter into force — representing 111 members. The list of the 107 WTO members which have deposited their instruments of acceptance with the WTO is available here.

At the WTO's 12th Ministerial Conference (MC12) held in Geneva in June 2022, ministers adopted the Agreement on Fisheries Subsidies by consensus, setting new, binding, multilateral rules to curb harmful fisheries subsidies. The Agreement prohibits subsidies for illegal, unreported and unregulated fishing, for fishing overfished stocks, and for fishing on the unregulated high seas.

Ministers also recognized the needs of developing economies and least-developed countries (LDCs) by establishing a fund to provide technical assistance and capacity-building to help governments that have formally accepted the Agreement to implement the new obligations.

Two months ago, the Fish Fund launched a Call for Proposals inviting developing economies and LDCs that have ratified the Agreement to submit requests for project grants aimed at helping them implement the Agreement. Applications are due by 9 October. The WTO Fish Fund portal can be found here.

WTO members also agreed at MC12 to continue negotiating on remaining fisheries subsidies issues. The objective is to find consensus on additional provisions to further strengthen the disciplines on fisheries subsidies.

Information for members on how to accept the Protocol of Amendment is available here.