E15 Fisheries Subsidies Policy Options Presented at the WTO

When it comes to global fisheries subsidies the numbers are stark: subsidies amount to approximately US$35 billion a year and the economic loss from the mismanagement of fisheries is estimated to be US$50-70 billion a year. Beyond the economic cost is the detrimental impact on the environment, trade, food security and on development more broadly: almost a third of global stocks are estimated to be overfished. It is for this reason that 193 States agreed to a Sustainable Development Goal that includes a target to prohibit harmful fisheries subsidies by 2020 (Target 14.6) in September 2015.

New Zealand convened a seminar entitled “Progressing Fisheries Subsidies Reform Post Nairobi” at the World Trade Organization (WTO) on 26 April 2016. Introductory comments were provided by James Brown (First Secretary, New Zealand Mission to the WTO),  after which Alice Tipping (ICTSD) provided an overview of the E15 fisheries subsidies policy options within the E15 policy options paper on “Trade Policy Options for Sustainable Oceans and Fisheries” by Rashid U. Sumaila.  Ambassador Guillermo Valles (UNCTAD) then provided some reactions and further views on the E15 policy options.  The event was facilitated by New Zealand Ambassador to the WTO, Vangelis Vitalis. The presentations were followed by an open discussion with participants.

More information about this event can be found on the New Zealand Ministry of Foreign Affairs and Trade (MFAT) website.