Seychelles becomes sitting member of WTO Fisheries Funding Mechanism Steering Committee

Seychelles officially took its seat on the steering committee of the World Trade Organisation’s Fisheries Funding Mechanism on Monday.

As the first African World Trade Organisation (WTO) member to ratify the Agreement on Fisheries Subsidies in March 2023, Seychelles joins the committee with a continued commitment to ensuring that the Fish Fund delivers the necessary targeted support for its effective implementation by developing and least developed WTO members.

The agreement provides for rules to curb harmful subsidies and protect global fish stocks while also considering the needs of fishers in developing and least developed countries.

It shall enter into force upon acceptance of its legal instrument by two-thirds of the membership.

Source: Press Release, Ministry of Finance, National Planning, and Trade

Photo: Copyright – Hugo Bret Photography