- July 16, 2021
- Posted by: adminer
- Category: Trade and Industry
The Federal Government has called for the exemption of small scale and artisanal fishers from the scope of fisheries subsidies discipline under negotiation at the World Trade Organisation (WTO) by member nations.
Mr Adeniyi Adebayo, Minister of Industry, Trade and Investment, made the call in his submission at a virtual meeting of WTO Trade Negotiations Committee (TNC) at the Ministerial Level on Fisheries Subsidies on Thursday.
Adebayo affirmed Nigeria’s commitment and support to the agreement to prohibit certain forms of fisheries subsidies that had resulted in rapid depletion of global marine fish stocks.
“I assure you of Nigeria’s support to proactively engage with all members toward achieving a balanced outcome in line with our mandate to conclude an agreement to prohibit fisheries subsidies that contribute to overcapacity and overfishing.’’
He promised that such engagement would eliminate subsidies that contribute to Illegal, Unreported and Unregulated (IUU) fishing, and refrain from introducing new such subsidies.
He said it would ensure recognition “that appropriate treatment for developing countries and least developed countries should be an integral part of the WTO fisheries subsidies negotiation”.
Adebayo also said Nigeria would be happy to negotiate on appropriate special and differential treatment provisions for developing countries and least developed countries.