Discuss about the India’s success in securing its interest in fisheries subsidies at World Trade Organization. (200 Words)
Refer - Business Line
Enrich the answer from other sources, if the question demands.
IAS Parliament 2 years
KEY POINTS
· The UN SDG target 14.6 had given a mandate to prohibit by 2020 subsidies that contribute to overcapacity and overfishing and to eliminate subsidies for illegal, unreported and unregulated (IUU) fishing, recognising that special and differential treatment (S&DT) to developing countries including LDC members has to be an integral part of the negotiations at the WTO.
· India had high stakes in this Agreement as the country ranks sixth in the global marine capture/production and has over four million fishermen and a coastline of 8,118 km.
· The Agreement lays down rules for prohibition of subsidies under two pillars for IUU fishing and when fish stocks are overfished.
· The third pillar being negotiated was for prohibition of subsidies which contribute to overcapacity and overfishing (OCOF).
· Under this third pillar, subsidies for fishing in areas beyond national jurisdiction (beyond EEZ exclusive economic zone) and beyond the area of competence of an RFMO (regional fisheries management organisations) are prohibited.
· In the final outcome, many members including the US, the UK, Australia, New Zealand, Canada and Saudi Arabia opposed the inclusion of horizontal fuel subsidies in the disciplines as it could lead to complexities, and thus was dropped to arrive at consensus.
