Secretary-General Welcomes Entry into Force of Agreement on Fisheries Subsidies

Following is UN Secretary-General António Guterres' message on the entry into force of the World Trade Organization (WTO) Agreement on Fisheries Subsidies, delivered by United Nations Conference on Trade and Development (UNCTAD) Secretary-General Rebeca Grynspan, in Geneva today:

I welcome today's entry into force of the landmark WTO Agreement on Fisheries Subsidies - a vital step in protecting our oceans and advancing sustainable development.

Overfishing and illegal fishing are accelerating biodiversity loss and threatening the food security and livelihoods of millions. Harmful subsidies - costing taxpayers $22 billion annually - fuel this crisis, often at the expense of small-scale fishers.

This Agreement prohibits subsidies contributing to illegal, unreported and unregulated fishing, curbs subsidies for the exploitation of overfished stocks and bans subsidies to fishing on the unregulated high seas - placing protections where none existed before.

I commend WTO members and Director-General Ngozi Okonjo-Iweala on this achievement.

Let us keep working to turn the tide - towards healthy oceans, resilient communities, and a sustainable future for all.