DTI: PHL in process of ratifying accord on fisheries subsidies


TRADE Secretary Alfredo E. Pascual said the Philippines “is in the process of ratifying the Agreement on Fisheries Subsidies,” as he  affirmed the Philippines’s commitment “to contribute to the second wave of the fisheries negotiations.”

In two World Trade Organization (WTO) meetings organized on the sidelines of the 2023 World Economic Forum (WEF) in Davos, Pascual stressed that advancing negotiations in agriculture is one of the top priorities of the Philippines.

Pascual, alongside 22 Ministers and senior officials representing a “broad spectrum” of the WTO membership, joined the Informal WTO Ministerial Gathering hosted by the Swiss Government.

A Department of Trade and Industry (DTI) statement on Monday said the meeting provided an opportunity to discuss priorities for the next stages of WTO work following the outcomes of the 12th Ministerial Conference (MC12) held in Geneva in June 2022.

The meeting also offered a platform to provide “political direction and motivation” in preparation for the 13th Ministerial Conference, which will take place in Abu Dhabi in February 2024.

In a press conference at the 12th WTO Ministerial Conference (MC12) in Geneva last June 2022, Philippine Agriculture Undersecretary for Agri-Industrialization and for Fisheries Cheryl Marie Natividad-Caballero said the Philippines shall benefit from the WTO funding mechanism in improving its capacity and technical knowledge in managing its fisheries resources.

Caballero earlier said the Philippines has undertaken initiatives and research on science-based approaches to sustainable fisheries management and will benefit from funding grants that enhance its capacity and technical knowledge towards ensuring up-to-date resource management mechanisms.

The WTO website said Switzerland became the first WTO member to formally submit its acceptance of the WTO’s new Agreement on Fisheries Subsidies, “paving the way for the historic agreement for ocean sustainability to enter into force.”

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