Cambodia has officially become a participant in a global initiative aimed at preserving marine life by accepting the World Trade Organization (WTO)’s Agreement on Fisheries Subsidies. This move signifies the nation’s commitment to contributing towards the sustainability of the world’s fish stocks and the broader objective of marine conservation.
The formal acceptance was conducted by Cham Nimul, who presented Cambodia’s instrument of acceptance to Deputy Director-General Angela Ellard of the WTO in Geneva, Switzerland. The announcement was made through a press release by the WTO on May 6.
By accepting the Agreement, Cambodia, classified as a least-developed country, underscores its dedication to being a part of the global solution for enhancing ocean sustainability. This action aligns with the pursuit of the Sustainability Development Goals established by the United Nations, targeting the year 2030.
Nimul emphasized that Cambodia’s agreement to the terms laid out by the WTO reflects its steadfast commitment to curtail subsidies that promote illegal, unreported, and unregulated fishing activities. “Our decision today to agree to this WTO Agreement signifies our efforts to regulate harmful subsidies in fishing,” Nimul stated.
Angela Ellard, in her response, highlighted the importance of Cambodia’s acceptance. She pointed out that Cambodia’s involvement demonstrates the country’s recognition of its role, despite its development status, in global efforts to protect the sustainability of marine environments. “This Agreement is poised to bring considerable benefits to Cambodia, where fisheries constitute a vital component of both food security and economic prosperity,” Ellard remarked.
With Cambodia’s adherence, the number of WTO members that have formally endorsed the Agreement climbs to 73. The agreement awaits 37 more acceptances to officially come into effect, which requires the acquiescence of two-thirds of the WTO membership.
The Agreement on Fisheries Subsidies was unanimously adopted during the WTO’s 12th Ministerial Conference in Geneva, from June 12-17, 2022. It introduces comprehensive and mandatory international regulations aimed at eliminating subsidies that contribute to illegal fishing practices and the depletion of fish stocks. The agreement targets eradicating support for illicit fishing activities, prohibits subsidies that promote overfishing or support fishing in unregulated international waters.
In the realm of fisheries, Cambodia has shown remarkable progress. According to a report from the Ministry of Agriculture, Forestry, and Fisheries, the country saw a significant surge in exports of freshwater fisheries products, totaling 3,449 tonnes in 2023, compared to 547 tonnes the preceding year. This growth underscores the importance of sustainable fishing practices for Cambodia’s economy and environmental preservation efforts.
Source: Khmer Times
