Lesotho formally accepts Agreement on Fisheries Subsidies

DG Okonjo-Iweala said: "I deeply appreciate Lesotho's commitment to the WTO and to supporting the implementation of this historic agreement. We are now very close to breaking new ground in safeguarding livelihoods and food security and securing the future of our shared oceans and marine fisheries – just 12 more acceptances to go!"

Ambassador Khathibe said: "Our deposit of the instrument of acceptance of the Agreement on Fisheries Subsidies reaffirms Lesotho’s unwavering commitment to a rules-based multilateral trading system and our support for global efforts to ensure the sustainable use of our shared natural resources. Although Lesotho is a landlocked least developed country (LDCs) with no marine fisheries of its own, we recognize the significance of this Agreement in addressing harmful subsidies that contribute to overfishing and the depletion of global fish stocks—resources that many coastal LDCs and developing countries depend on for livelihoods, nutrition and economic development.

By accepting this Agreement, Lesotho stands in solidarity with the global community in advancing Sustainable Development Goal 14.6 and protecting the marine environment for present and future generations. We commend the leadership of the Director-General, and urge all members to complete their domestic processes, and join us in bringing this historic Agreement into force."

For the Agreement to come into force, formal acceptances from two-thirds of WTO members are required – representing 111 members. The list of current instruments of acceptance deposited with the WTO is available here.

Ministers adopted the Agreement on Fisheries Subsidies by consensus at the WTO's 12th Ministerial Conference (MC12) held in Geneva in June 2022, 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 implement the new obligations.

WTO members also agreed at MC12 that negotiations on remaining fisheries subsidies issues would continue, with the objective of finding consensus on additional provisions to further strengthen the disciplines on fisheries subsidies.

Information for members on how to accept the Protocol of Amendment can be found here.