Chinese Taipei formally accepts Agreement on Fisheries Subsidies, bringing tally to 90

DG Okonjo-Iweala said: "I warmly welcome Chinese Taipei's formal acceptance of the Agreement on Fisheries Subsidies. It underscores the collective determination of WTO members to address harmful subsidies that deplete fish stocks, and to ensure healthier oceans for the benefit of livelihoods and ecosystems worldwide. I encourage the remaining WTO members to swiftly follow suit – we need only 21 more."

Dr Lo, Chinese Taipei's Permanent Representative to the WTO, said: "The Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu is pleased to formally deposit our instrument of acceptance for the WTO Agreement on Fisheries Subsidies. Throughout the negotiations, we have engaged constructively and believe we have made a meaningful contribution to the outcome. Our strong commitment to the disciplines embedded in the Agreement is reflected in this deposit. With our submission, alongside those of other members, we hope to see the Agreement enter into force ahead of the 14th Ministerial Conference (MC14), thereby providing momentum for the ongoing Phase II negotiations. We also thank Director-General Dr Ngozi for her leadership in helping fisheries subsidies negotiations move forward."

Chinese Taipei's instrument of acceptance brings to 90 the total number of WTO members that have formally accepted the Agreement. Twenty-one more formal acceptances are needed for the Agreement to come into effect. The Agreement will enter into force upon acceptance by two-thirds of the membership.

Adopted by consensus at the WTO's 12th Ministerial Conference (MC12), held in Geneva on 12-17 June 2022, the Agreement on Fisheries Subsidies sets new, binding, multilateral rules to curb harmful subsidies, which are a key factor in the widespread depletion of the world's fish stocks. In addition, the Agreement recognizes the needs of developing economies and least-developed countries and establishes a fund to provide technical assistance and capacity building to help them implement the obligations.

The Agreement prohibits subsidies for illegal, unreported and unregulated (IUU) fishing, for fishing overfished stocks, and for fishing on the unregulated high seas.

Members also agreed at MC12 to continue negotiations on outstanding issues, with a view to adopting additional provisions that would further enhance the disciplines of the Agreement.

The full text of the Agreement can be accessed here. The list of members that have deposited their instruments of acceptance is available here. Information for members on how to accept the Protocol of Amendment is available here.