Pakistan ratifies an essential fisheries agreement for sustainable marine resources

Pakistan has made a significant commitment to the sustainability of global fish stocks by formally accepting the Agreement on Fisheries Subsidies established by the World Trade Organisation (WTO). This action, taken during a presentation by Pakistan’s Ambassador to the WTO, Ali Sarfaraz Hussain, to Director-General Ngozi Okonjo-Iweala, reflects Pakistan's dedication to its coastal communities, marine resources, and the overall environment. The WTO director highlighted that this formal acceptance not only aligns with international efforts to protect fisheries but also positions Pakistan to benefit from resources available through the WTO’s Fish Fund. The Agreement on Fisheries Subsidies was adopted at the WTO’s 12th Ministerial Conference in June 2022 and aims to create binding rules that mitigate harmful subsidies contributing to the depletion of fish stocks globally. In the context of increasing concerns surrounding overfishing and environmental degradation, this agreement is particularly important as it recognizes the needs of both developing economies and least-developed countries. The agreement prohibits subsidies for practices such as illegal, unreported, and unregulated fishing, and for fishing activities targeting overfished stocks or occurring in unregulated areas of the high seas. With Pakistan’s acceptance, the total number of WTO members who have ratified the agreement now stands at 94. The agreement will come into force when two-thirds of skilled members formally accept it; a total of 17 additional acceptances are required for that to happen. The move signifies a collective effort under the WTO to combat harmful fishing practices globally. Ambassador Hussain expressed optimism, encouraging other WTO members to follow Pakistan's example swiftly, which would contribute significantly to restoring the health of marine ecosystems and securing food resources for communities reliant on fisheries.