New Delhi is keen to finalize the fisheries subsidy deal at the upcoming Twelfth WTO Ministerial Conference (MC12) as irrational subsidies and overfishing by many countries are hurting Indian fishermen, but failing to find the right balance and fairness in the pact, they know people said the thing.
Negotiations are ongoing among WTO members to finalize disciplines to end subsidies to illegal, unreported and unregulated (IUU) fishing and to ban certain forms of fisheries subsidies that contribute to overcapacity and overfishing.
The chairman of the negotiations on fisheries subsidies, Ambassador Santiago Wills of Colombia, has called a week-long meeting – Fish Decision Week – for May 30 to resolve the issues. The MC12 takes place from June 12th to 15th.
“India is committed to completing the negotiations as long as it allows room for equitable growth and freedom to develop fishing capacity for the future without permanently locking members into prejudicial agreements,” said a person familiar with the negotiations.
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