On November 15, Costa Rica officially deposited its instrument of acceptance for the WTO Agreement on Fisheries Subsidies, a landmark multilateral treaty aimed at curbing harmful fishing subsidies that deplete global fish stocks. The ceremony was marked by Ambassador Ronald Saborío Soto’s presentation to WTO Director-General Ngozi Okonjo-Iweala, highlighting Costa Rica’s ongoing commitment to marine conservation and sustainable economic practices.
Director-General Okonjo-Iweala praised Costa Rica’s leadership, stating:“Costa Rica continues to lead by example: its formal acceptance of the Agreement on Fisheries Subsidies reinforces its impressive track record in advancing marine conservation and promoting sustainable economic practices. I applaud its dedication to global efforts to promote sustainable fishing. I hope more WTO members swiftly follow suit so that this landmark Agreement enters into force.”
Ambassador Saborío reaffirmed Costa Rica’s commitment, saying:“It is my pleasure to deposit Costa Rica’s instrument of acceptance of the Agreement on Fisheries Subsidies. Costa Rica is convinced that this Agreement will make a meaningful contribution to the sustainability of global fisheries resources and therefore encourages other Members to also complete the acceptance procedures with a view to securing the entry into force of the Agreement as soon as possible.”
Costa Rica’s acceptance brings the total number of WTO members endorsing the Agreement to 87. To activate the Agreement, acceptance from two-thirds of the WTO’s 164 members is required—leaving 24 more nations to formalize their acceptance.
The Agreement on Fisheries Subsidies, adopted during the WTO’s 12th Ministerial Conference (MC12) in Geneva in June 2022, sets binding global rules to eliminate subsidies that contribute to overfishing and illegal, unreported, and unregulated (IUU) fishing. The treaty also recognizes the challenges faced by developing and least-developed countries (LDCs), offering a dedicated fund for technical assistance and capacity building to help them fulfill their obligations.
The Agreement prohibits three main types of subsidies:
IUU Fishing: Bans subsidies for illegal, unreported, and unregulated fishing practices.
Overfished Stocks: Disallows subsidies for fishing activities targeting overexploited fish populations.
Unregulated High Seas: Prohibits financial support for fishing in unregulated areas of international waters.
Beyond these initial commitments, WTO members have agreed to continue negotiations on unresolved issues to further strengthen the Agreement’s disciplines.
Costa Rica has a longstanding reputation as a global leader in marine conservation. It has implemented progressive policies to protect its rich biodiversity and promote sustainable development. Its endorsement of the WTO Agreement aligns with its broader environmental goals, setting an example for other nations to follow.
The Director-General urged all WTO members to expedite their acceptance processes to ensure the Agreement’s prompt enforcement. Once in effect, it will significantly contribute to the restoration of fish stocks, support ocean health, and enhance the livelihoods of millions dependent on sustainable fishing practices worldwide.
Costa Rica’s commitment underscores the urgency of global action, setting the stage for the Agreement to become a cornerstone of international efforts to combat the environmental and economic threats posed by overfishing.