LDCs to demand continuation of fisheries subsidies

Bangladesh has joined other least-developed countries (LDCs) to demand the continuation of partial fisheries subsidies as nations are set to agree to new rules for the industry and limit state support contributing to unsustainable fishing and the depletion of global fish stocks.

Talks on the fisheries subsidies at the World Trade Organisation (WTO) have remained stalled since 2001 for the overfishing and overcapacity by a number of countries.

Fisheries subsidies need to be continued for the LDCs at least for capacity-building, technology upgrade, purchase of ships, training, and developing human resources, as the fisheries sector has become a major source of jobs and economic development, said Hafizur Rahman, director-general of the WTO Cell under the commerce ministry.

"The LDCs have already agreed to place the demand for the continuation of fisheries subsidies at the 12th WTO Ministerial Conference." The conference will take place in Geneva between November 30 and December 3.

Bangladesh's mission in Geneva is negotiating with other LDCs in favour of the continuation of the fisheries subsidies, at least partially so that the livelihood of low-income people is secured as their lives are largely dependent on fishing, said Rahman.

The commerce ministry has already sent Bangladesh's position to the Geneva mission. The creation of fisheries subsidies disciplines has been the subject of work in the WTO's Negotiating Group on Rules since the Doha Development Agenda was launched in 2001.

That mandate was elaborated in 2005 at the Hong Kong Ministerial Conference, including with a call for prohibiting certain forms of fisheries subsidies that contribute to overcapacity and overfishing.

At the 2017 Buenos Aires Ministerial Conference, ministers decided on a work programme to conclude the negotiations by aiming to adopt an agreement on fisheries subsidies at the next ministerial conference.

Based on the mandate from the last ministerial conference and the UN Sustainable Development Goal Target 14.6, negotiators in the

WTO were given the task of securing an agreement on disciplines to eliminate subsidies for illegal, unreported and unregulated fishing and to prohibit certain forms of fisheries subsidies that contribute to overcapacity and overfishing, with special and differential treatment for developing countries and LDCs integral to the negotiations.

Declining fish stocks threaten to worsen poverty and endanger coastal communities that rely on fishing, the WTO says.

At a meeting of the negotiating group on November 8, the chair of the fisheries subsidies negotiations, Ambassador Santiago Wills of Colombia, introduced a second revision of the draft negotiating text to be used as the basis for discussions among members aimed at resolving remaining differences ahead of the upcoming ministerial meeting.

Bangladesh, along with other LDCs, has also decided to seek zero-duty trade benefit for nine years, from 12 years initially thought about, for the countries that graduate from the group.

For the last few years, the LDCs have been lobbying the WTO for a trade benefit for 12 years. But the developing and developed countries are not agreeing to the idea of extending duty benefit for 12 years.

"So, we have changed our position. Now, we will demand it for nine years," said Rahman.

The LDCs also want the value-addition of manufactured goods to be fixed at 25 per cent for them to qualify for the duty benefit under the Rules of Origin, down from 40 per cent demanded by the developed and developing countries.

"This is also included in the main agenda of the WTO Summit," Rahman said.

Bangladesh is lobbying with other countries, multilateral platforms and regional trade blocs to attain duty-free trade benefits as the country is set to leave the LDC group in 2026.

The European Union will continue the current duty privilege for three years after graduation.