Germany has contributed €500,000 to a new World Trade Organization fund to help developing nations implement fisheries subsidy agreements.
The funds are the first in a multi-year donation totalling €2 million.
The donation was presented by Dirk Meyer, Director-General of Germany’s Federal Ministry for Economic Cooperation and Development to WTO Director-General Ngozi Okonjo-Iweala and Deputy Director-General Angela Ellard.
Ngozi Okonjo-Iweala said the donation reflected Germany’s long-standing commitment to the environment. “Germany’s support for the Fisheries Fund will be instrumental in our ability to assist developing and LDC members to fulfil their commitments under the Agreement on Fisheries Subsidies,” she said.
“This support will enhance our collective global efforts to improve and safeguard the sustainability of the ocean for the benefit of fishers, workers, consumers and future generations.”
The new Agreement of Fisheries Subsidies potentially impels WTO members to adjust laws and administration processes, placing a financial burden on developing nations. It therefore makes provision for a funding mechanism to help members with implementation.
“For the agreement to become effective, countries need to adapt their legal framework as well as put in place practical oversight and implementation,” explained Dirk Meyer.
“Germany will support countries on this path to sustainable fishing by actively engaging in the new WTO Fisheries Trust Fund,” he added.
The Fund is operated by the WTO Secretariat in partnership with the Food and Agriculture Organization of the United Nations, the International Fund for Agricultural Development, and the World Bank Group.
Since 2000 Germany has contributed more than €35 million to various WTO trust funds.
