OUAGADOUGOU (ChatnewsTV) — Burkina Faso has officially accepted the World Trade Organization (WTO) Agreement on Fisheries Subsidies, marking a significant step in global efforts to regulate harmful fisheries practices. On October 16, Burkina Faso’s Minister of Foreign Affairs, Karamoko Jean Marie Traoré, presented the instrument of acceptance to WTO Director-General Ngozi Okonjo-Iweala at a ceremony in Geneva.
“I am delighted that Burkina Faso has formally accepted the Agreement on Fisheries Subsidies,” said Director-General Okonjo-Iweala. “As a landlocked, least-developed country, Burkina Faso’s commitment underscores the vital role all WTO members must play in advancing this Agreement closer to its entry into force, fostering sustainable global fisheries for the benefit of livelihoods and food security worldwide. I hope more members will swiftly follow suit.”
Minister Traoré emphasized the importance of Burkina Faso’s ratification, noting, “Our country’s acceptance of the Agreement reflects our dedication to fulfilling our international commitments, particularly within the WTO. The sustainability of the world’s oceans and their resources is critical for all nations, regardless of their geographical position.”
The minister also stressed that Burkina Faso sees the Agreement as benefiting all nations, including landlocked ones, by promoting technical capacity-building in the fisheries sector. “We are pinning our hopes on the effectiveness of this Agreement in all its dimensions,” he added.
Burkina Faso’s ratification brings the total number of WTO members who have accepted the Agreement to 85, including 17 African countries, nine of which are least-developed countries. For the Agreement to take effect, acceptance from two-thirds of WTO members is required, leaving 26 more acceptances to reach this threshold.
The WTO Agreement on Fisheries Subsidies, adopted at the 12th Ministerial Conference (MC12) in June 2022, sets new binding rules to curb harmful subsidies contributing to overfishing and the depletion of marine resources. It prohibits subsidies for illegal, unreported, and unregulated (IUU) fishing, as well as for fishing overfished stocks and unregulated high seas fishing.
The Agreement also includes provisions to support developing and least-developed countries, with a fund established to provide technical assistance and capacity-building efforts to help them comply with the new obligations.
