The opportunity to regulate domestic fishery subsidies through international agreements

Several studies have pointed out that inappropriate fisheries subsidies can have negative effects on marine wild-capture fisheries, mainly due to differences in municipal laws. For the sustainable development of marine wild fisheries, it is necessary to reach an agreement on the regulation of inappropriate fisheries subsidies. After lengthy negotiations, the World Trade Organization (WTO) Negotiating Group of Rules presented a draft text on fisheries subsidies in 2007; however, the WTO has yet to reach a final consensus. Recently, after the Bali Ministerial Conference, participants announced their consideration of setting up a legal framework to regulate fisheries subsidies by means of a regional and multilateral trade agreement. If this does occur, the greatly delayed provisions of the WTO Chair's Draft Text may be put into effect in the Trans-Pacific Strategic Economic Partnership Agreement.