The purpose of this agreement is to eliminate subsidies that contribute to illegal, unreported, and unregulated fishing, as well as to support the sustainable use of marine biological resources.
The Protocol, adopted in June 2022 at the 12th WTO Ministerial Conference, became the first multilateral agreement dedicated exclusively to issues of fishing and environmental protection.
The document introduces a ban on granting subsidies for illegal, unreported, and unregulated fishing, as well as subsidies related to fishing in unregulated areas and in regions with depleted fish stocks.
Furthermore, the agreement includes special and differentiated measures for developing countries, which implies the provision of transitional periods and technical assistance.
