Sri Lanka has officially joined to the World Trade Organization (WTO) Agreement on Fisheries Subsidies, reaffirming the government’s commitment to a sustainable fisheries industry.
Accordingly, Sri Lanka’s Ambassador to the WTO, Mr. R.G.S. Wijesekera, officially submitted the relevant instrument of ratification to the Director-General of the organization.
By agreeing to this agreement, which has been under negotiation for many years, Sri Lanka will take steps to prohibit subsidies that contribute to illegal, unreported and unregulated (IUU) fishing, as well as subsidies for fish stocks of high harvest.
Additional Secretary (Fishery Resources Management) Dhammika Ranatunga said, "This agreement will bring many unique benefits to the Sri Lankan fisheries industry. It will increase Sri Lanka's recognition and credibility in the export market as a country that maintains a sustainable fisheries industry. This will open up high-value export market opportunities for our fisheries products. It will also provide an opportunity to build the capacity of our fishing community and obtain technical assistance through the WTO's Special Fisheries Fund."
106 countries in the world have so far joined this agreement, which demonstrates Sri Lanka's contribution and commitment to a sustainable fisheries industry globally.
