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The Steering Committee of the World Trade Organisation Fish Fund was able to approve several framework papers during its second meeting, which took place on July 3. These documents will govern the activities of the Fund after the Agreement on Fisheries Subsidies becomes effective. The Fund was established to assist developing countries and members of least-developed countries (LDCs) in their efforts to implement the Agreement on Fisheries Subsidies. The Steering Committee has made remarkable progress in the short period since January. This is an excellent accomplishment. "It is a testament to your dedication to fulfilling the promise of providing concrete support by the time the Agreement's entry into force to those members committed to its implementation," Deputy Director-General Angela Ellard said at the meeting. "It is a testament to your dedication to fulfilling the promise."
In only a few short months, she stated that the formulation of the Rules of Procedure, the development of an Impact Statement, the definition of categories of financing, and the establishment of an application procedure needed a significant amount of concentrated labour, devotion, and constructive conversations. This strong beginning demonstrates unequivocally that nations are committed to ensuring that our seas have a sustainable future. The work that the Fish Fund Secretariat will be doing for the remainder of the year has also been approved by the Steering Committee. This work includes the creation of a strategy for the Fund, the preparation of the initial "Call for Proposals" that will be issued when the Agreement goes into effect, and the creation of a communications, outreach, and engagement plan.
Among the members of the Steering Committee, which is the governing body of the Fish Fund, are eight members of the World Trade Organisation (WTO) who have contributed to the Fund, as well as eight members of poor and least-developed countries who have submitted their instruments of ratification and will benefit from the Fund. In addition, the Steering Committee is comprised of representatives from the World Trade Organisation Secretariat, the United Nations Food and Agriculture Organisation (FAO), the World Bank Group, and the International Fund for Agricultural Development (IFAD), who are the Fund's primary partners. The Steering Committee, with the aid of the Fund Secretariat, is tasked with the responsibility of examining applications for assistance as well as other matters that are associated with the administration of the Fund. Members of developing countries and least-developed countries (LDCs) that have ratified the Agreement will be entitled to receive assistance once the Agreement is put into effect.
A total of sixteen contributors have donated more than twelve million Swiss francs to the Fund up to this point, and an additional two million Swiss francs has been pledged of support. Several countries, including Australia, Canada, the European Union, Finland, France, Germany, Iceland, Japan, the Republic of Korea, Liechtenstein, the Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, the United Arab Emirates, and the United Kingdom, have made contributions or pledges to the Fund up to this point. Article 7 of the Agreement stipulates the establishment of a voluntary funding mechanism to provide targeted technical assistance and capacity building to assist developing and least developed country members with implementation. This is because the new Agreement on Fisheries Subsidies will involve modifications and enhancements to the legislative and administrative frameworks of WTO members, as well as their obligations regarding transparency and notification, as well as their fish
Tags : #WTOFishFund #FisheriesSubsidiesAgreement #DevelopingCountries #LeastDevelopedCountries #SustainableOceanManagement #TechnicalAssistance #CapacityBuilding #FrameworkPapers #FinancialContributions #GlobalCommitment
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