Deal on fisheries possible in 2020, WTO chair and official say

Published 30/06/2020, 17:42

By Emma Farge
GENEVA, June 30 (Reuters) - The World Trade Organization
(WTO) aims to secure an agreement on cutting fisheries subsidies
this year, the chair of the talks and a WTO official said on
Tuesday, despite the cancellation of a major meeting due to
COVID-19.
The Geneva-based watchdog has been seeking a deal for 20
years on eliminating billions of dollars in subsidies including
from China and the European Union, a move environmentalists say
is needed to protect fish stocks.
An agreement is also important for the credibility of the
WTO, which has not reached a multilateral deal for years and is
currently seeking a new chief at a critical juncture.
"I'm trying to move these negotiations as fast as members
can go so that we can deliver by 2020," said Colombia's
Ambassador Santiago Wills, current chair of the talks, at a
webinar organised by Friends of Ocean Action.
"I'm confident that if there is political will and technical
will from the negotiators we will manage to deliver that in
2020."
Wills sent a six-page 'draft consolidated text' last week to
members in which he urges them to work "as quickly and
efficiently as possible" and to be ready to compromise on the
final text.
The WTO scrapped its major biennial meeting due to be held
in Kazakhstan this month due to concerns over coronavirus and a
new date has not been set. A deal could be reached outside of that timeframe, delegates
say, at a General Council meeting in December.
The U.S. ambassador to the WTO, Dennis Shea, has previously
voiced support for a December deal. Members will give feedback
on the text next month.
Nigeria's candidate to lead the WTO also told Reuters she
would aim for a multilateral deal on fisheries, citing
"considerable progress" in recent talks.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.