WTO to establish fisheries funduing

 WTO to establish fisheries funduing

By Staff Writer
The World Trade Organisation (WTO) is working to establish a 10-million dollar Fisheries Funding Mechanism, aimed at providing targeted technical and capacity building assistance.

The assistance is to developing and Least Developed Countries for them to set up strong and effective operations in the fisheries sector.

Speaking when she introduced the funding mechanism to Ministers at the ongoing 12th WTO Ministerial Conference in Geneva, Switzerland,WTO Director-General, Ngozi Okonjo-Iweala said the proposed funding is timely as many countries have talked of the need for capacity building and technical assistance.

Dr Okonjo-Iweala also said a healthy and productive blue economy is one where fish stocks are healthy and fishermen continue earning a decent living, he has since expressed happiness with progress made so far.

And Negotiating Group on Rules Chairperson, Santiago Wills said fisheries subsidies are a new area of work for the WTO.

Philippines Under-Secretary for Agri-Industrialization and Fisheries, Cheryl Marie Natividad-Caballero said her country stands ready to collaborate and cooperate with other WTO members.