A joint statement committing to adopt measures to tackle global fleet overcapacity has been signed by the EU and major fishing nations including the United States, Colombia, Japan, Philippines and Indonesia.

Oceana said that this new initiative will revive and strengthen the international commitment to address the problem, which was signed in 1999 but has since been abandoned.
Xavier Pastor, executive director of Oceana in Europe, said: “This joint declaration constitutes the strongest call in years to put an end to overfishing in the world’s oceans by sustainably managing the fleet and eliminating subsidies that promote overcapacity. Oceana welcomes this step and encourages signatories to put their words into practice by ensuring the effective implementation of this commitment”.
Oceana says that with 87% of the world’s fisheries being overexploited, global action to address the problem of overcapacity is essential to restoring some of the world’s fisheries.
This new initiative was led by the European Commission and the EU Greek Presidency. The EU has one of the world’s largest fleets (80,000 vessels), including an external fleet that operates in many parts of the world under various international agreements making the situation a complex issue to solve.