Director-General Okonjo-Iweala said: “I am grateful to Liechtenstein for its donation to the Fisheries Funding Mechanism. Each contribution makes a real difference in ensuring the effective implementation of the Agreement on Fisheries Subsidies. This donation also demonstrates Liechtenstein’s strong regard for global sustainability and international cooperation.”
Ambassador Jäger said: “Liechtenstein is fully committed to the implementation of the UN Sustainable Development Goals, including Goal 14 on the conservation and sustainable use of the oceans, sea and marine resources. Although we do not have any fishing industry and related special expertise, we attach high importance to the WTO’s work on harmful fisheries subsidies. With our support of the Fisheries Funding Mechanism, we aim at contributing to an early implementation of the new disciplines and at helping improve fisheries management and restore overfished stocks.”
The Agreement on Fisheries Subsidies will enter into force upon acceptance of its legal instrument by two-thirds of the membership. Nearly half of what is needed for the Agreement to come into effect is already in hand. Because the new Agreement on Fisheries Subsidies will involve adjustments and enhancements to WTO members’ legislative and administrative frameworks, their transparency and notification obligations, and their fisheries management policies and practices, Article 7 of the Agreement provides for the creation of a voluntary funding mechanism to provide targeted technical assistance and capacity building to help developing and least-developed country members with implementation.
The fund is operated by the WTO with partner organizations, namely the Food and Agriculture Organization (FAO) of the United Nations, the International Fund for Agricultural Development, and the World Bank Group, which bring to bear relevant expertise and allow the WTO to leverage its own expertise.
More information on the fund, which became operational on 8 November, is available here.
Including the most recent donation, Liechtenstein’s total contribution to the various WTO trust funds from 2002 to 2023 is CHF 800,000.
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