Reaction: WTO fisheries subsidies deal going into effect

The World Trade Organisation (WTO) has announced that an international ban on the most harmful fisheries subsidies will finally go into effect, more than three years after it was adopted.

However, developing countries get two years’ grace, and they can get help through the WTO’s Fish Fund. 

Subsidies that artificially reduce cost and inflate profits have contributed to rampant overfishing and damage to marine ecosystems. Governments continue to pour money into the exploitation of depleted fisheries and even illegal operations.

Previous IIED research suggests subsidies have also caused significant disruption to ocean carbon cycles, with implications for the fight against climate change.

Reacting to the WTO’s announcement, Annabelle Bladon, an IIED senior researcher, said: “For years governments have lavished their fishing fleets with tax breaks and cheap fuel, apparently careless of the consequences.

“The billions currently being spent on harmful subsidies should be redirected towards positive actions, like managing fisheries more sensibly. That includes helping coastal communities who rely on the ocean for survival to use it sustainably.

“Allowing fish stocks to recover will maintain them as a source of food and jobs for future generations. Nature isn’t infinitely abundant, and it’s long past time that reality was reflected in global economic structures.”