Malaysia has officially ratified the World Trade Organisation’s (WTO) Fisheries Subsidies Agreement (FSA), joining 68 other member nations in a collective effort to combat harmful fishing subsidies and safeguard fish stocks. This announcement was made by Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz during his attendance at the 13th WTO Ministerial Conference in Abu Dhabi, United Arab Emirates.
The FSA, adopted in June 2022, aims to address critical threats to oceans and promote sustainable fishing practices worldwide. By curbing illegal, unreported, and unregulated (IUU) fishing, the agreement seeks to mitigate overfishing and maintain the delicate balance of marine ecosystems.
In his statement on social media, Tengku Zafrul emphasised Malaysia’s dedication to global cooperation and responsible ocean stewardship. He urged remaining WTO members to expedite their domestic ratification processes, emphasising the importance of collective action in preserving marine biodiversity and safeguarding the livelihoods of millions dependent on fishing.
Furthermore, the FSA ensures transparency and accountability in fishing subsidies provided by member countries. Tengku Zafrul highlighted that this transparency fosters responsible fishing practices and facilitates effective compliance monitoring.
As part of the agreement, the WTO will establish technical assistance and capacity-building programs aimed at aiding developing and least developed countries in integrating sustainability elements into their policies and enhancing their fisheries management systems. This initiative underscores a concerted effort to support global sustainability goals and secure a better future for generations to come.
