The World Trade Organization‘s Agreement on Fisheries Subsidies entered force on September 15, banning harmful subsidies that support illegal fishing, overfishing, and unregulated high seas fishing to protect marine resources and coastal livelihoods, according to a press-release by United Nations Trade and Development Programme (UNCTAD). The groundbreaking deal marks a major win for multilateral cooperation as 37% of global fish stocks have already dropped below sustainable levels. UNCTAD Secretary-General Rebeca Grynspan told WTO members the agreement shows what becomes possible “when multilateralism meets political will.”
Fisheries provide food security and jobs for 600 million people worldwide, from Senegalese fishers pulling in empty nets to Bangladeshi processors watching factories close and Pacific Island families losing centuries-old traditions. The stakes keep rising as overfishing threatens both marine ecosystems and the communities that depend on them. The agreement directly supports UN Sustainable Development Goal 14.6 by cutting public incentives for destructive fishing practices.
Developing countries play a huge role in global fish trade, exporting $45 billion worth of fisheries and aquaculture products in 2023 – about 40% of the $114 billion total market. However, between 2020 and 2022, governments provided $10.7 billion in fisheries support, with two-thirds of that money potentially fueling unsustainable fishing. The new rules will help redirect these funds toward better stock management and ecosystem restoration.
Developing nations will need support to turn the ban into national laws, report to the WTO, reform their subsidy programs, and shift resources toward sustainable practices. The WTO Fish Fund will provide technical help, while special provisions give poorer countries more flexibility. UNCTAD’s Luz Maria de la Mora said the agency stands ready to help implement this landmark agreement, especially for countries most hurt by declining fish populations.
