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Synopsis: Overexploitation of fish resources needs to be addressed urgently.
Introduction
The world faces many global or common problems ranging from climate change to over-exploitation of common resources like fisheries. According to Food and Agriculture Organization (FAO) more than a third of the marine resources have been depleted beyond a point which it cannot replace itself.
Why fisheries segment is important?
39 million people depend on fisheries for their livelihood. Fisheries meet about 1/5 of the animal-proteins requirement of about 42% of the population of the world.
What are the ways to solve the fisheries’ problem?
World Trade Organization (WTO) should focus on ending subsidies for activities that promote deep-sea fishing. For example, ending subsidies on cheap fuel for Deep Sea trawlers.
Countries need to control the illegal or unregulated high-volume mechanized deep sea fishing.
| Read more: Differential treatment: On fisheries subsidies issue at WTO |
For territorial waters, it should be left to the country to manage the resources. For example, India.
What should be the way forward?
Though ending the subsidies would be difficult, WTO should still take up the issue. The developed countries, which have caused maximum harm, need to take up more responsibility in overcoming this crisis.
