Director-General Okonjo-Iweala said: “I would like to extend my sincere gratitude to Canada for its generous contribution towards the implementation by developing and least-developed countries of the WTO Agreement on Fisheries Subsidies. Support for the Fisheries Funding Mechanism is about strengthening the world’s collective ability to preserve the health and productivity of our fisheries for the benefit of all people everywhere, and in particular about helping developing and least-developed countries better manage their own fisheries, which will help secure the livelihoods of their citizens who depend on fisheries. I commend Canada for its commitment to this cause.”
Ambassador Theodore said: “Protecting global fish stocks and the health of our oceans, while increasing the economic benefits to developing and least developed members from the sustainable management of marine resources is important to Canada. Canada is pleased to make a contribution to the WTO trust fund to support developing and least developed members in implementing the Agreement on Fisheries Subsidies, which furthers cooperative global efforts to maintain healthy fish stocks. Canada continues to work closely with WTO members to ensure a sustainable, resilient, and inclusive global economy.”
Because the new Agreement on Fisheries Subsidies will involve adjustments and enhancements to WTO members’ legislative and administrative frameworks, transparency and notification requirements, and fisheries management policies and practices, Article 7 of the Agreement provides for the creation of a funding mechanism to provide targeted technical assistance and capacity building to help developing and least-developed country members with implementation.
The Fund is operated by the WTO with partner organizations, namely the Food and Agriculture Organization (FAO) of the United Nations, the International Fund for Agricultural Development, and the World Bank Group, which bring to bear relevant expertise and allow the WTO to leverage its own expertise.
More information on the Fund, which became operational on 8 November, is available here.
Including the most recent donation, Canada’s total contribution to the various WTO trust funds from 2001 to 2023 is CHF 14,672,877.
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