Press Releases
Entry into Force of the Protocol Amending the Marrakesh Agreement Establishing the World Trade Organization (Protocol Amending the WTO Agreement (Agreement on Fisheries Subsidies))
On September 15, upon acceptance by 111 World Trade Organization (WTO) Members, which corresponds to two-thirds of all WTO Members, the Protocol of Amendment to insert the Agreement on Fisheries Subsidies (hereinafter referred to as the “Fisheries Subsidies Agreement”) into the Marrakesh Agreement Establishing the World Trade Organization (hereinafter referred to as the “WTO Agreement”) entered into force for the WTO Members that have accepted the Protocol, pursuant to the provision of the WTO Agreement.
- The Protocol amends the WTO Agreement to insert the Fisheries Subsidies Agreement into Annex 1A of the WTO Agreement. The Fisheries Subsidies Agreement includes provisions not to grant or maintain any subsidy to a vessel or operator engaged in illegal, unreported and unregulated (IUU) fishing. It is the second newly established agreement of Annex 1A, following the Agreement on Trade Facilitation, since the establishment of the WTO in 1995. Its entry into force is important as it demonstrates the significance of the WTO’s rule-making function.
- Furthermore, by entering into force, the Protocol is expected to contribute to achieving the Sustainable Development Goals of the United Nations which aims to eliminate fisheries subsidies that contribute to IUU fishing, and promoting management of global fisheries resources, further development of multilateral trade system, and sustainable growth of the global economy.
(Reference1) World Trade Organization
The World Trade Organization (WTO) is an international organization established on January 1, 1995 following an agreement on establishment in 1994. The WTO Agreement defines international rules related to trade. The WTO implements and manages agreements and addresses new trade issues, and thereby, serves as the core of the multilateral trade regime. The terms “country” or “countries” in the WTO Agreement include any separate customs territory Member of the WTO.
(Reference2) Protocol Amending the WTO Agreement (Fisheries Subsidies Agreement)
1) The Protocol was adopted on June 17, 2022 at the WTO Ministerial Conference.
2) Japan deposited with the Director General of the WTO the instrument of acceptance on July 3, 2022 following the Diet approval for its acceptance on June 9, 2023.
3) The Protocol enters into force for WTO Members that accepted it upon acceptance by two-thirds of all WTO Members pursuant to Article X: 3 of the WTO Agreement and it subsequently enters into force for other WTO Members upon their acceptance.
(Reference3) WTO Agreement Article X: 3 (excerpt)
Amendments to provisions of this Agreement, or of the Multilateral Trade Agreements in Annexes 1A and 1C […] of a nature that would alter the rights and obligations of the Members, shall take effect for the Members that have accepted them upon acceptance by two thirds of the Members and thereafter for each other Member upon acceptance by it.