Summary
A World Trade Organization (WTO) agreement to reduce overfishing officially started. It aims to cut back on subsidies that encourage too much fishing and protect fish populations in oceans. The agreement has been adopted by 112 countries, which is enough to make it active.
Key Facts
- The WTO agreement is focused on reducing subsidies that lead to too much fishing.
- It officially took effect on Monday after more than three years since its adoption.
- The agreement requires approval from two-thirds of WTO's 166 members; 112 countries have accepted it.
- Countries like China, the United States, and European Union members have joined.
- India and Indonesia have not adopted the agreement yet.
- The agreement will limit some of the $22 billion in global fishing subsidies.
- Only the first part of the agreement, which addresses illegal fishing and overfished stocks, is active.
- A second part, focusing on limiting subsidies for large-scale fishing operations, is not yet finalized.
