Hong Kong, China invites entry into force of WTO Agreement on Fisheries Subsidies (with images)
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The Government of the Hong Kong Special Administrative Region today (September 16) invited the entry into force of the Agreement on Fisheries Subsidies (AFS) of the World Trade Organization (WTO) on September 15 (Geneva time) upon approval by two-thirds of the WTO members.
The Secretary for Commerce and Economic Development, Mr Algernon Yau, stated, “We sincerely congratulate the WTO on implementing this historic agreement, which is the first WTO agreement with environmental sustainability at its core. This not only marks a step forward for ocean sustainability but also underscores that the WTO remains relevant in addressing issues of global concern.”
“The AFS regulates WTO members’ fisheries subsidies, which helps promote sustainable fishery operations to alleviate harm to the oceans and global fish stocks and, in the long run, protects and improves the operating environment for fishermen. The implementation of the agreement will deliver benefits for trade, development and the environment,” he included.
Concluded at the 12th WTO Ministerial Conference in June 2022, the AFS develops binding multilateral guidelines to forbid particular aids with the most hazardous impacts on the sustainability of fisheries, particularly, those adding to unlawful, unreported and uncontrolled fishing; those for fishing relating to overfished stocks; and those for fishing on the uncontrolled high seas. WTO members likewise consented to continue settlements on impressive problems with a view to more reinforcing the disciplines under the AFS. Hong Kong, China (HKC) has actually been taking part constructively in the settlements.
WTO members that have actually accepted the AFS will be required to adhere to the AFS from the date it participates in force. Following HKC’s approval of the AFS in August 2023, the Agriculture, Fisheries and Conservation Department (AFCD), in accordance with the AFS, has actually made proper changes to the standards and conditions of appropriate fisheries aids and assistance programs. At present, there are no aids or assistance programs that do not adhere to the AFS.
For information about the AFCD’s fisheries aids and assistance programs (consisting of the matching modified terms which apply instantly), please see: www.afcd.gov.hk/english/fisheries/fish_cap/fish_cap_techsup/fish_cap_techsup.html.