December 31, 2023 — World Trade Organization (WTO) negotiators have struggled to conclude talks on ending harmful fishery subsidies, and as each day goes by, the 31 December deadline to agree on a draft text – set by Icelandic WTO Ambassador Einar Gunnarsson, who has been chairing the talks – looms larger.
The ongoing talks aim to build upon a deal the WTO reached in 2022, which prohibited subsidy support for illegal, unreported, and unregulated (IUU) fishing, by adding rules on subsidies that lead to overfishing and overcapacity in global fishing fleets.