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WTO States To Keep Talking After Missing Date To End Fish Subsidies

Published on Nov 18 2019 7:40 AM in Fresh Produce tagged: Trending Posts / European Union / World Trade Organisation / Fish Subsidies

WTO States To Keep Talking After Missing Date To End Fish Subsidies

World Trade Organisation (WTO) member states will miss their own year-end deadline to halt the fishing subsidies that are depleting global stocks, but are likely to extend their talks until June 2020, a WTO spokesman said.

Subsidies worth tens of billions of dollars are blamed for massive overfishing worldwide.

The new chair of the negotiations, Colombian ambassador Santiago Wills, was recently appointed after the job had been vacant for months..

Delegates meeting on Friday indicated that there was now too little time to reach agreement before the end of the year, the spokesman said.

The Next Steps

At its 9 - 11 December meeting, the WTO General Council is expected to formalise the next steps, with a view to reaching a deal by the WTO ministerial conference set for Nur-Sultan, Kazakhstan, in June 2020, the spokesman added.

A paper published by Marine Policy in September estimated global subsidies at $35.4 billion in 2018, although not all of those are the harmful ones targeted by the WTO.

China, the European Union, the United States, South Korea and Japan are the top five subsidisers.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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