May 11, 2021 — The head of the World Trade Organization plans to host a ministerial meeting on July 15 where she hopes an agreement can be reached on cutting fisheries subsidies after 20 years of talks, a document showed on Monday.
Governments including major subsidisers China, the European Union and Japan spend billions of dollars a year to prop up their fishing fleets, contributing to over-fishing that is decimating wild stocks. The WTO was tasked by world leaders in 2015 with striking a deal to roll them back but missed a key deadline last year. read more
Director-General Ngozi Okonjo-Iweala, who took charge of the global trade watchdog in March, has made fisheries a top priority and urged ministers in an invitation letter seen by Reuters “to find the common resolve and spirit of compromise that the WTO needs to bring these twenty-year-plus negotiations to a successful conclusion at this meeting”.
Intensive negotiations will continue in Geneva with the chair of the talks, Santiago Wills, expected to issue a fourth version of the draft agreement this week.