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WTO Summit | Developed nations industrial fishing fleets should be held responsible for overfishing: Commerce Minister

India has pushed for a stronger global agreement to battle overfishing based on the principles of 'common but differentiated responsibility and 'polluter pays' whereby developed nations that have exploited the most oceanic resources being held responsible for marine ecosystem collapse and cutting back subsidies more.

June 14, 2022 / 21:30 IST
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Fisherman in India (Representative image)

Developed nations with huge industrial fleets of vessels that have systematically exploited oceanic resources and contributed to overfishing should be held responsible and a stronger global regime should be enforced to rein them in, Commerce and Industry Minister Goyal has said at the ongoing 12th ministerial conference at the World Trade Organization (WTO).

Speaking at a special intervention on the issue of fishing rights, Goyal stressed that fishing subsidies should be checked to ensure marine wealth is not exploited. However, he said it should be divided on a differentiated basis since a country like India with nearly 9 million families receiving meager government subsidies can't be equated with industrial nations with huge trawler fleets receiving fuel subsidies.

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The once-in-two-year mega meeting of trade ministers from all 164 World Trade Organization (WTO) member nations, which legislate on global trade has seen tense discussions on how to bring down overfishing and maintain claims over country's rights to fish undisturbed in their waters.

A long-planned, but never enforced global deal at the WTO aims to ban fishing subsidies to protect marine ecosystems from overfishing. The WTO has been entrusted with the important task of fixing rules on fishing subsidies by world leaders. Called the Decision on Fisheries Subsidies, aims to comply with global sustainability goals and commit members to prohibit government subsidies.