Civil society, trade experts urge India not to ratify WTO's agreement on fisheries subsidies

economictimes.indiatimes.com:

India not to ratify the fisheries subsidies agreement agreed upon by the World Trade Organisation members in Geneva last year and instead commence talks for a comprehensive pact.Members of the Geneva-based WTO on June 17, 2022, secured a 'Geneva Package' which included agreements on curbing harmful fishing subsidies and temporary patent waivers for the production of COVID-19 vaccines. The fisheries agreement finalised would prohibit developed countries, engaged in distant water fishing, not to provide subsidies for illegal, unreported and unregulated fishing activities. However, the countries have to negotiate about the other issues of the agreement which include overfishing and overcapacity.

«We urge the government not to ratify this unequal agreement. Instead, the government should begin talks on the comprehensive agreement which is already mandated about disciplines for industrial fishing nations under Article 5 pertaining to overcapacity and overfishing,» according to a letter sent by certain members of civil society, trade unions and NGOs to Commerce and Industry Minister Piyush Goyal. Acceptance from two-thirds of WTO members is needed to bring the agreement into effect.

So far, over 10 countries have ratified. India has not yet ratified the pact. There are 164 members.