Malawi Ambassador to the World Trade Organisation (WTO) Caroline Bwanali-Mussa says the country is fully committed to the multilateral trading system.
She is quoted as having said this in a statement on Friday after the WTO director general Ngozi Okonjo-Iweala received Malawi’s instruments of acceptance of the Agreement on Fisheries Subsidies to curb harmful fisheries subsidies.
Bwanali-Mussa said despite Malawi not being a coastal country, it fully supports WTO members’ collective efforts to protect the environment, conserve global fish stocks and combat illegal, unreported and unregulated fishing.
“These efforts are integral to the protection of the livelihoods of vulnerable populations who rely on aquatic ecosystems for food security, employment, health and socio-economic resilience,” she said.
The Agreement on Fisheries Subsidies establishes a set of binding prohibitions and rules to ensure that the support provided by governments to their fishing sector does not undermine the sustainability of marine resources.
Malawi brings to 100 the number of WTO members that have deposited their instruments of acceptance with the WTO.
Okonjo-Iweala is quoted in the statement as having said that with this 100th instrument, WTO now needs just 11 more to add the agreement to the WTO rulebook.
She said: “The depletion of marine fish stocks globally requires our urgent collective action. I thank Malawi for joining this crucial collective effort.
“With Malawi’s instrument of acceptance, we have reached a milestone for putting into motion a multilateral deal that will support more sustainable use of our oceans and fisheries for current and future generations.”
At the WTO 12th Ministerial Conference (MC12) held in Geneva, Switzerland in June 2022, ministers of Trade 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.
The ministers also recognised the needs of developing economies and least-developed countries by establishing a fund to provide technical assistance and capacity building to help governments, which have formally accepted the agreement implement the new obligations.
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.
WTO is an intergovernmental organisation headquartered in Geneva that regulates and facilitates international trade.
The body also provides a framework for negotiating trade agreements, settling trade dispute and monitoring national trade policies.
Malawi has been a member of WTO since 1995.
