Ambassador LO attended the HoD meeting to discuss appropriate legal form of fisheries subsidies rules
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The Chair of Negotiating Group on Rules (Fisheries Subsidies), Colombian Ambassador Santiago WILLS, held a Heads of Delegation meeting on September 29, inviting Members to exchange views on whether fisheries subsidies rules (FSR) should be enacted as a standalone agreement or as an annex to WTO subsidies agreement (ASCM).
Ambassador LO spoke at the meeting, indicated that the legal form of FSR will have broader implications for the environment. “ASCM is for trade interest, FSR is for resource conservation. We suggest that there should be a standalone WTO agreement (instead of an annex to ASCM) for such subsidies to show that the new agreement is not for trade interest, but for resource conservation”, Ambassador LO said.
Ambassador LO expressed that as instructed by ministers at the MC11, the fisheries subsidies negotiations aim to adopt an agreement which delivers on Sustainable Development Goal 14.6. The broad purpose of such an agreement is to conserve and sustainably use the marine resources for sustainable development.
Although fisheries subsidies disciplines affect trade interests, such interests are not the main concern of the mandate. The disciplines bear a very high extent of “public interest” of protecting and sustainably conserving our common environment.
