Agreement on IUU fishing and overfished stocks

SARTHAK IAS
Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests
Key pointers:
India will not agree to a commitment against subsidies for illegal, unregulated, unaccounted (IUU) fishing and overfished stocks at the WTO Ministerial meet to be held in Buenos Aires in December.
New Delhi’s firm stand on the matter is important as the livelihood of millions of artisanal farmers will be at risk if subsidy reduction commitments are undertaken without safeguards.
Global stand:
Countries including Malaysia, Cameroon, Oman, Paraguay and the Philippines, too, have spoken out against commitments to reduce subsidies at the Ministerial meet while others such as the EU and New Zealand want their inclusion.
The Africa Group has expressed its willingness to go along with commitments on disciplining fisheries subsidies as long as developing and less developed countries are exempt.
China said it can support subsidy prohibitions but only for IUU fishing and not for overfished stocks.

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