On the afternoon of September 18, the Ministry of Commerce held a routine press conference.A media question said that the WTO Fisheries Subsidy Agreement came into force on September 15, please ask what importance does the implementation of the agreement mean for the WTO and global fisheries resources?

On September 15, the first agreement of the WTO aimed at achieving the Environmental Sustainable Development Goals ¨C the Fisheries Subsidy Agreement ¨C entered into force, which is an important event in the multilateral trade system and global fisheries governance. For the WTO, the Fisheries Subsidy Agreement reached at the 12th Ministerial Conference of the WTO in June 2022, is the longest multilateral agreement in the WTO negotiations and has undergone a very difficult and complex process of negotiation. The agreement, in the context of the current WTO is facing severe challenges of unilateralism, has come into effect in just over three years, including China¡¯s firm support of the WTO, active practice of multilateral commitments, strengthens the WTO¡¯s relevance and power, strengthens the trust of the

The agreement establishes a binding multilateral discipline for subsidies, requiring members to meet their obligations to ensure transparency in fisheries subsidies and management policies, improve fisheries law enforcement and capability for sustainable assessment of fisheries resources.The implementation of the agreement will contribute to the sustainable development of global fisheries and enhance the capacity of member fisheries for long-term scientific conservation and sustainable development.

China is a global marine fishing power and an active advocate and practitioner for the sustainable development of global fisheries. China approved the agreement on June 27, 2023, and is the main member of the WTO who was the first to complete the ratification process. We use the WTO as a platform to actively implement global governance initiatives and engage in multilateral fisheries governance. After the agreement comes into effect, China will seriously fulfill its obligations under the agreement, work with other WTO members to jointly safeguard the sustainable development of global marine resources, strive to build a community of marine destiny and contribute to the achievement of the UN 2030 Sustainable Development Goals.