WTO Fisheries Subsidies Talks: Revised Draft Text Circulated for Possible Conclusion by December General Council

Ambassador Einar Gunnarsson, chair of the fisheries subsidies negotiations, aims for a resolution by mid-December with revised provisions and a clear work schedule.

On 29 November 2024, Ambassador Einar Gunnarsson of Iceland, who chairs the negotiations on fisheries subsidies at the World Trade Organization (WTO), circulated a revised draft text on Additional Provisions on Fisheries Subsidies. The updated draft is designed to pave the way for a potential conclusion of the negotiations by the December General Council meeting.

The revised draft includes significant updates to provisions discussed during the negotiations, addressing concerns related to subsidies for fishing in areas beyond a subsidizing member's jurisdiction, extension periods for graduating Least-Developed Countries (LDCs), and the characterization of small-scale and artisanal fishing. In addition to the updated text, the chair circulated an explanatory note detailing all the changes made to the previous July draft, aiming to clarify member concerns and promote greater consensus.

Work Schedule to Facilitate Negotiations

To keep momentum, the chair also circulated a tentative schedule of work for the next two weeks, from 2-13 December 2024, which includes meetings over the weekends if needed. Ambassador Gunnarsson has emphasized the importance of narrowing the remaining substantial differences among members, noting that with continued engagement, there is a realistic chance of reaching a final agreement.

Optimism for Successful Conclusion in December

In his communication to WTO members, Ambassador Gunnarsson recognized the progress made so far and expressed a strong desire to conclude the negotiations in December, remarking: "Recognizing how far we have come, and the fact that there may be no more opportune moment in time, I feel compelled to explore whether a path can be found to bring our negotiations to a successful close."

While the majority of WTO members are ready to finalize the negotiations based on the July draft text, the chair acknowledged that two members still have concerns and are pushing for substantial changes before committing to an agreement.

Request for Decision at General Council

Ambassador Gunnarsson has instructed Iceland's delegation to request that the matter be inscribed for decision at the WTO General Council meeting scheduled for 16-17 December 2024. This marks a pivotal step toward finalizing the fisheries subsidies agreement, which has been a longstanding issue within the global trading system.

The WTO’s fisheries subsidies negotiations aim to curb harmful fishing subsidies that contribute to overfishing and depletion of marine resources, while also addressing the economic development needs of developing and least-developed countries. The goal is to achieve a balanced, inclusive agreement that ensures the sustainability of the world’s fisheries while providing opportunities for economic growth in the fishing sectors of developing nations.