CHINA: World’s Largest Seafood Producer Ratifies WTO Deal on Fisheries Subsidies - WEF
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China, the world’s leading marine fishing producer, has formally accepted a historic trade agreement for ocean sustainability at the World Economic Forum’s 14th Annual Meeting of the New Champions.
It will help bring into force a global deal struck a year ago by the World Trade Organization’s 164 members to work towards eliminating billions of dollars in "harmful" subsidies that are emptying the oceans of fish.
- China affirmed its support for World Trade Organization agreement for ocean sustainability.
- Director-General Ngozi Okonjo-Iweala received the ratification from Commerce Minister Wang Wentao at the World Economic Forum’s Annual Meeting of the New Champions.
- Follow the meeting at https://wef.ch/amnc23 or on social media using #amnc23 or #2023夏季达沃斯# on Weibo and WeChat.
The agreement prohibits support for illegal, unreported and unregulated (IUU) fishing, bans support for fishing overfished stocks and ends subsidies for fishing on the unregulated high seas. The World Economic Forum, through the Friends of Ocean Action, has been a long-term supporter of the global agreement along with businesses, ocean experts and civil society organizations. Learn More /...
Image Credit: Jean-Marie Hullot/Flickr
About WEF (World Economic Forum)
The World Economic Forum is the International Organization for Public-Private Cooperation.
The Forum strives to model world-class corporate governance, where values are as important as rules. Legitimacy, accountability, transparency and concerted action are the guiding principles of the Forum. Learn More /...
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