Okonjo-Iweala Elated As Congo Ratifies Treaties On Fisheries Subsidies, Trade Facilitation
By Sunday Etuka, Abuja
The Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has expressed delight over the bold step taken by the Democratic Republic of Congo to ratify the agreements on fisheries Subsidies and Trade Facilitation.
D.R. Congo on Friday formally joined Nigeria and other members that have ratified the agreement to curb harmful fisheries subsidies and better preserve the oceans.
Receiving the Democratic Republic of Congo’s instrument of acceptance of the Agreement on Fisheries Subsidies from the Minister for International Trade, Julien Paluku Kahongya, Dr. Okonjo-Iweala, said about seven more acceptances are needed for the Agreement to enter into force.
DG Okonjo-Iweala said: “I am very grateful to the Democratic Republic of the Congo for joining so many other WTO members in taking this step to protect the global commons. We are now just seven ratifications away from the entry into force of this landmark Agreement to curb harmful fisheries subsidies and better preserve our oceans!”
Also speaking, the Congolese minister, Kahongya said: “By ratifying the Agreement on Fisheries Subsidies, the Democratic Republic of the Congo reaffirms its commitment to the principles of multilateralism and to ensuring sustainable management of the world’s marine resources.
“The ratification reflects our country’s determination to contribute actively to preserving the environment, combating overfishing and promoting international trade based on equity, sustainability and solidarity.
“We also hope that the implementation of this crucial international legal instrument will allow the Democratic Republic of the Congo to participate more actively in world trade,” he said.
The Director-General also received from the Democratic Republic of Congo its acceptance of the Trade Facilitation Agreement (TFA).
Concluded in 2013, the TFA contains provisions for expediting the movement, release and clearance of goods which will enhance regional trade integration and connectivity.
Formal acceptances from two-thirds of WTO members are required for the Agreement to enter into force — representing 111 members.
At the WTO’s 12th Ministerial Conference (MC12) held in Geneva in June 2022, ministers adopted by consensus the Agreement on Fisheries Subsidies, setting new, binding, multilateral rules to curb harmful fisheries subsidies.
The Agreement prohibits subsidies for illegal, unreported and unregulated fishing, for fishing overfished stocks, and for fishing on the unregulated high seas.
Ministers also recognized the needs of developing economies and least-developed countries by establishing a fund to provide technical assistance and capacity-building to help governments that have formally accepted the Agreement to implement the new obligations.
The Fish Fund launched a Call for Proposals on 6 June, inviting developing economies and LDCs that have ratified the Agreement on Fisheries Subsidies to submit requests for project grants aimed at helping them implement the Agreement.
WTO members also agreed at MC12 to continue negotiating on remaining fisheries subsidies issues. The objective is to find consensus on additional provisions to further strengthen the disciplines on fisheries subsidies.
