Illustration photo: VGP

This decisive step has raised the total number of members ratifying the agreement to 111, the minimum required for the document to take effect globally. Vietnam is proud to be one of the last four countries, together with Brazil, Kenya and Tonga, to contribute to “activating” this landmark agreement.

At the WTO General Council’s special session in Switzerland on Monday, Ambassador and Permanent Representative of Vietnam to Geneva Mai Phan Dung, on behalf of the Vietnamese Government, submitted the ratification document. It demonstrates Vietnam as a reliable and responsible partner of the international community and also its resolve to join the fight against illegal, unreported, and unregulated (IUU) fishing, a critical issue for Vietnam’s seafood export markets.

The Fisheries Subsidies Agreement was adopted at the 12th WTO Ministerial Conference in Geneva in 2022, after more than 20 years of arduous negotiations. This is WTO’s first multilateral agreement focused on protecting the marine environment and sustainable development of fisheries. The agreement sets out binding rules, eliminates subsidies for IUU fishing, but subsidizes depleted fish stocks and fishing outside of managed waters.