WTO Fisheries Funding Mechanism

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Background

At the 12th Ministerial Conference held on 12-17 June 2022 in Geneva, WTO members forged a historic Agreement on Fisheries Subsidies, which sets new rules to curb harmful subsidies and protect global fish stocks while recognizing the needs of fishers in developing and least-developed countries (LDCs) members. The Agreement will enter into force once formal acceptances have been received from two-thirds of the membership – representing 111 members.

Article 7 of the Agreement on Fisheries Subsidies provides for the creation of the WTO Fisheries Funding Mechanism for targeted technical assistance and capacity-building activities to help developing and least-developed country members implement the Agreement. On 8 November 2022, the mechanism - known as the WTO Fish Fund - became operational. and ready to accept contributions from members.

Objectives of the Fund

The main objectives of the Fish Fund are to:

• provide technical assistance in support of members' efforts to bring their subsidy measures into conformity with the Agreement on Fisheries Subsidies    this includes changes to laws and regulations and preparation and submission of WTO notifications

 

• coordinate technical assistance and capacity-building activities with core partner organizations, such as the UN Food and Agriculture Organization (FAO), the International Fund for Agricultural Development (IFAD) and the World Bank, to leverage expertise to support members in implementing the Agreement on Fisheries Subsidies

• support beneficiary members in strengthening cooperation among domestic agencies responsible for trade, subsidies and fisheries, with the aim of supporting the integration of fisheries sustainability into existing subsidies policies, fisheries management practices and processes

• assist beneficiary members in strengthening their fisheries management practices to meet the requirements of the Agreement on Fisheries Subsidies through collaboration with core partner organizations.

Governance and operation of the Fish Fund

Established by the WTO in partnership with the FAO, the IFAD and the World Bank Group, the Fish Fund is governed by a Steering Committee, a Technical Sub-committee and a Secretariat.

The Steering Committee is composed of eight WTO member donors and eight WTO member beneficiaries. The Steering Committee directs the decisions of the Fish Fund. The Committee's current members are Australia, Canada, Côte d'Ivoire, Djibouti, Fiji, France, Gabon, Germany, Iceland, Japan, the Netherlands, Nigeria, Peru, Saint Lucia, Senegal and Spain.

The Technical Sub-committee consists of core partner organizations – FAO, IFAD, the World Bank and the WTO Secretariat – and is entrusted with expert technical advice and recommendations on project proposals.

Finally, the Fish Fund Secretariat is responsible for providing support and assistance to WTO members in accessing support from the Fish Fund. It conducts activities and manages finances as directed by the Steering Committee.

Since its inception, the Fish Fund has received contributions, commitments and pledges totalling approximately CHF 16 million . The Fish Fund will be able to disburse funds when the Agreement on Fisheries Subsidies enters into force.

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