A landmark trade agreement to remove US$35 billion worth of fish subsidies has been signed by 90 countries, among them, 48 African states, Asian and countries in the Pacific region, to end harmful fishing and to implement measures to conserve marine resources.
The deal was signed at the UN Conference on Trade and Development (UNCTAD), which has been holding a major ministerial meeting in Nairobi, to discuss measures required to bolster trade and translate the positive benefits of trade to fight poverty around the world.
Under the new agreement announced in Nairobi on Thursday, countries would be required to provide information to the UN agencies backing the initiative about any forms of subsidies they are currently providing and ban those fishing subsidies which promote over-fishing and illegal fishing.
UN Food and Agriculture Organisation (FAO), the Nairobi-based UN Environment Programme (UNEP) and UNCTAD, all backing the initiative to stop the decline in fish stocks globally, said the signing of the new fishing agreement was a significant step in implementing the Sustainable Development Goals (SDG).
UNCTAD Secretary-General Mukhisa Kituyi said getting the 90 countries to sign the four-point roadmap to end fishing subsidies was a major step in consensus building during the 14th session of UNCTAD.
“I welcome this collaboration with our colleagues at FAO and UNEP and look forward to engaging the fisheries sector with our trade and economic expertise,” Kituyi said.
The roadmap calls for the introduction of policy measures and tools to stop countries from making laws and supporting new harmful subsidies that lead to the destruction of the environment.
Under the deal, least developed and developing countries would be free to receive special treatment from the rich states in conserving the environment through non-destructive fishing on the oceans.
“The status quo means we have been watching a tragedy unfolding without taking sufficient action. It is frankly a scandal,” said UNCTAD Deputy Secretary-General Joakim Reiter.
The agreement was signed by the states including the African, Caribbean and Pacific Group (ACP), Argentina, Ecuador, Iceland, New Zealand, Norway and Peru and Uruguay.
At least 48 African countries are members of the ACP group, which comprises a membership of the 79 states.
Photo credit: Exact earth
