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What is the News?
At the 12th WTO Ministerial Conference, India was successful in defending the rights of developing countries to subsidize their fisheries.
What have the WTO members agreed regarding the Fishing Subsidy?
WTO members agreed on eliminating subsidies to those engaged in illegal, unreported and unregulated fishing.
The only exception for continuing subsidies is for overfished stock when they are deemed essential to rebuild them to a biologically sustainable level.
The agreement also provides that there would be no limitation on subsidies granted or maintained by developing or least-developed countries for fishing within their exclusive economic zones (EEZ).
What has India achieved in its demand at WTO on fisheries subsidies?
India had strongly opposed the article in the draft that required developing countries to do away with subsidies that contribute to overfishing and overcapacity within 7 years of the agreement coming into effect or up to 2030.
Instead, India sought a 25-year transition period as the sector still requires support in developing countries to protect the livelihoods of low-income fishermen.
This provision cited above was removed from the text and will now need to be negotiated afresh within four years.
However, India was also pressing for disciplines on subsidies given by developed countries with large industrial fleets in the form of non-specific fuel subsidies. This account for 22% of total fisheries subsidies. But the text completely excludes these subsidies from the pact allowing countries to continue with them.
Source: The post is based on the article “India’s fishing subsidy win at WTO the start of a long fight” published in Livemint on 20th June 2022.
