The Clock Is Ticking. WTO Must Act On Fisheries Subsidies Agreement Without Delay

Harmful subsidies generally lead to fishing fleet overcapacity and consequently overfishing and fish stocks depletion. ( Image Source :Getty )

As Abu Dhabi gets ready to host the 13th Ministerial Conference (MC13) of the World Trade Organization (WTO), all eyes are set on its deliverables. One such key issue on the table is the Agreement on Fisheries Subsidies (AFS). In fact, countries provide incentives to their fishing sector in the form of fisheries subsidies. However, since many such subsidies generally lead to fishing fleet overcapacity and consequently overfishing and fish stocks depletion, the AFS potentially addresses these