An Analysis of the WTO's Agreement on Fisheries Subsidies & its Impact on the Africa Union's 2063...
Overfishing is a pressing global challenge. According to the Food and Agriculture Organization of the United Nations (FAO), 87% of assessed marine fish stocks are exploited beyond sustainable levels, at a steady upward trajectory since the 1970s.
Subsequently, over two decades of negotiations culminated in an agreement prohibiting detrimental fishing subsidies, a significant factor in the depletion of global fish stocks. This bold leap could potentially be a major development for the African fisheries industry as it provides for the livelihoods and food security of over 400 million people.
The World Trade Organization's (WTO) Agreement on Fisheries Subsidies appears to be in consensus with the Africa Union’s (AU’s) goal of achieving a thriving blue economy by 2063.
This article seeks to explore the intent of the new fisheries regulation in view of how the African Continent can leverage its provisions toward a viable blue economy.
The detailed Article is available for download as a PDF file below: