After more than two decades of negotiations, the World Trade Organization (WTO) has forged a landmark agreement to curb subsidies that contribute to overfishing and depletion of global fish stocks. The WTO Agreement on Fisheries Subsidies marks the first multilateral deal placing environmental sustainability at its core, prohibiting the most harmful subsidies linked to illegal, unreported, and unregulated fishing, overfishing, and fishing in unregulated high seas.
WTO Deputy Director-General Jennifer Nordquist emphasized the agreement's significance for ecologically sensitive regions like the Pacific Islands. "By addressing these issues, the agreement seeks to foster responsible fishing practices and ensure long-term viability for the fisheries sector," she said.
The accord aims to protect over 260 million people who depend on fishing livelihoods while promoting sustainable ocean use. To date, 119 WTO members have accepted the agreement, including the Philippines, which committed in 2024.
Agriculture Undersecretary Asis Perez noted that while the Philippine fisheries sector can compete globally without the deal, it will level the playing field by preventing other nations from using subsidies to gain an unfair advantage. The Philippine government provides limited subsidies, primarily during crises, and strictly penalizes illegal fishing under existing laws.
With fish stocks under pressure worldwide, this WTO agreement represents a critical step toward ensuring that future generations can continue to rely on the ocean's bounty.