Small fisherfolk to gain from fisheries deal

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The Philippines has ratified  the World Trade Organization (WTO) Agreement on Fisheries Subsidies (FSA), a crucial step towards curbing harmful subsidies and safeguarding the world’s depleting fish stocks.

The Department of Trade and Industry (DTI) in a statement yesterday said the Philippines deposited its instrument of acceptance of the FSA on February 27 in time for the 13th WTO Ministerial Conference (MC13) in Abu Dhabi.

The Philippines is the 70th member to accede to the FSA whose provision would  benefit the country’s small-scale and artisanal fisherfolks, who fish within their respective municipal waters.

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One such provision in FSA provides flexibility to developing and least-developed countries to provide subsidies up to and within the exclusive economic zone  for two years from the date of entry into force of the Agreement.

FSA prohibits subsidies that contribute to illegal, unreported, and unregulated fishing, subsidies concerning overfished stocks, and subsidies for fishing in the unregulated high seas.

DTI Secretary Fred Pascual of the Deand Department of Agriculture (DA) Secretary Francisco Tiu Laurel, Jr. presented the country’s Instrument of Ratification to WTO Director-General Ngozi Okonjo-Iweala.

“The agreement allows members to grant subsidies for disaster relief under certain conditions to support fisherfolks impacted by natural disasters. This is vital to the Philippines, being a climate-vulnerable country, especially since small-scale and artisanal fisherfolks are heavily impacted by strong typhoons and the increasing sea temperatures exacerbated by climate change.”

Moreover, the Philippines can avail of technical assistance from the WTO Fisheries Funding Mechanism to assist in implementing the disciplines and obligations of the Agreement.

The agreement was adopted at the 12th WTO Ministerial Conference  in June 2022 and will enter into force once two-thirds of the WTO Membership  have ratified it.– Irma Isip

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