Kathmandu: The World Trade Organization (WTO) Agreement on Fisheries Subsidies has been tabled in today’s meeting of the House of Representatives. Minister for Industry, Commerce and Supplies Damodar Bhandari introduced the Agreement to the Lower House, emphasizing its goal of preventing inappropriate extraction of biological resources in the sea, which would ensure the sustainable availability of marine fish.
According to National News Agency Nepal, Minister Bhandari highlighted that the Agreement aims to curb harmful fisheries subsidies that lead to overfishing and illegal, unreported, and unregulated fishing. He elaborated that the Agreement also restricts fishing or the provision of subsidies for such activities in marine areas outside the jurisdiction of coastal countries and various regional fisheries management organizations.
The WTO’s 12th ministerial conference in Geneva, Switzerland, adopted the Agreement in 2022, marking a significant advancement for ocean sustainability, as conveyed by the Minister. Earlier in the meeting, Speaker of the House, Devraj Ghimire, read aloud a letter regarding the portfolios received from the Office of Prime Minister and Council of Ministers.
The next meeting of the House of Representatives is scheduled for Tuesday.