The World Trade Organization (WTO) has long been at the forefront of international trade regulation, shaping policies that impact the global economy. In recent years, the organization’s focus has broadened to address environmental sustainability, particularly in the realm of global fisheries. On September 17, 2024, an important milestone was reached when the United Arab Emirates (UAE) contributed USD 1 million to the WTO’s Fisheries Funding Mechanism, a fund established to support developing countries and least-developed countries (LDCs) in implementing the Agreement on Fisheries Subsidies. WTO Director-General Ngozi Okonjo-Iweala warmly praised the UAE’s contribution as a critical move towards global solidarity in protecting marine ecosystems.
A Contribution Beyond Dollars: The UAE’s Role in Sustainable Fishing Practices
Director-General Okonjo-Iweala has consistently emphasized the importance of the Agreement on Fisheries Subsidies, which represents a landmark effort to eliminate harmful subsidies that contribute to overfishing and depletion of marine resources. In this context, the $1 million contribution from the UAE is not merely a financial transaction—it’s a declaration of global commitment to achieving sustainable development, particularly under Sustainable Development Goal 14.6 (SDG 14.6).
During the handover of the funds by UAE Ambassador Abdelsalam Mohamed A. Al Ali, Okonjo-Iweala expressed her deep appreciation for the UAE’s leadership. “The generous contribution from the United Arab Emirates to the WTO Fish Fund is an important step towards supporting sustainable fishing practices globally,” she said. “It will help fellow WTO members meet their obligations under the landmark Agreement on Fisheries Subsidies and manage their fisheries sustainably.”
This contribution is part of a broader UAE initiative, as the country was one of the early adopters of the agreement. Ambassador Al Ali noted that this donation formalizes an earlier announcement by His Royal Highness Sheikh Abdullah Bin Zayed Al Nahyan, the UAE’s Minister of Foreign Affairs, solidifying the UAE’s active role in supporting international efforts to protect the world’s oceans.
Global Solidarity in Action
What stands out most in this moment is not just the size of the contribution but the symbolism behind it. The UAE’s proactive involvement reflects the growing realization among nations that protecting marine ecosystems is a global imperative, not a regional concern. The oceans provide livelihoods for millions of people, especially in coastal communities of developing nations and LDCs. Okonjo-Iweala touched on this aspect during her speech, stating that the UAE’s contribution showcases “global solidarity, which will help us protect our oceans and support the millions of people who depend on marine resources for their livelihoods and food security.”
Her words encapsulate the heart of the matter: the world’s oceans are interconnected, and unsustainable practices in one region can have cascading effects on ecosystems elsewhere. The UAE’s initiative also reinforces the urgency of moving from rhetoric to action, especially as the world confronts the environmental degradation caused by overfishing, pollution, and climate change.
Supporting Developing and Least-Developed Countries: The Role of the Fish Fund
One of the most critical aspects of the Agreement on Fisheries Subsidies is its provision for assisting countries that may lack the technical expertise or financial resources to implement the necessary changes. Article 7 of the agreement calls for the creation of a voluntary funding mechanism designed to offer targeted technical assistance and capacity-building programs.
The WTO Fish Fund, which is operated by the WTO with support from the Food and Agriculture Organization (FAO), the International Fund for Agricultural Development (IFAD), and the World Bank Group, is an essential component of this assistance. The UAE’s contribution will go a long way in ensuring that developing countries and LDCs can meet their obligations under the agreement.
The technical complexities involved in fisheries management, legislative reforms, and transparency measures make this assistance crucial. As Okonjo-Iweala remarked, the funds will be used to help countries implement best practices in fisheries management, thus making a real impact in how the world’s fish stocks are preserved.
Speeding Up the Ratification Process
Another pivotal challenge highlighted by both Okonjo-Iweala and Ambassador Al Ali is the need to accelerate the ratification process for the Agreement on Fisheries Subsidies. Currently, 83 WTO members have formally accepted the agreement, with 28 more ratifications needed for it to enter into force. The UAE, having ratified the agreement early, is playing a key role in encouraging other nations to follow suit.
Al Ali stressed the importance of maintaining and even speeding up the momentum for ratification. “We believe that the current momentum of ratification should be maintained, perhaps even speed up the process, so as to facilitate the entry into force of the Agreement and help preserve ocean wealth for future generations,” he said. His call to action echoes Okonjo-Iweala’s consistent messaging on the need for a united global front in the fight against overfishing.
A Future-Focused Vision for Global Fisheries
Director-General Okonjo-Iweala’s optimism about the UAE’s contribution extends beyond its immediate impact. She sees it as part of a larger, future-focused vision where global governance aligns with environmental sustainability. The Agreement on Fisheries Subsidies is a key piece of this puzzle, and contributions like the UAE’s help turn aspirations into reality.
As more countries step up to contribute financially or through policy reforms, the goal of achieving sustainable fisheries globally becomes more attainable. Okonjo-Iweala’s leadership at the WTO has been marked by her unwavering focus on inclusive, sustainable development. Her praise of the UAE’s contribution highlights a core aspect of her leadership—championing multilateralism as the path to solving complex global challenges like environmental degradation.
A Milestone in Global Environmental Policy
The UAE’s contribution of $1 million to the WTO’s Fish Fund is far more than a simple donation; it represents a significant step in the global effort to protect marine ecosystems and ensure sustainable fisheries. Director-General Ngozi Okonjo-Iweala’s praise for this contribution underscores the critical role that such financial commitments play in enabling developing nations and LDCs to implement the Agreement on Fisheries Subsidies.
The world’s oceans, which are vital to food security, economic livelihoods, and biodiversity, face unprecedented threats. But as nations like the UAE step forward in a spirit of global solidarity, there is renewed hope that these resources can be protected for future generations. Okonjo-Iweala’s leadership at the helm of the WTO continues to inspire, as she marshals international cooperation to tackle some of the most pressing issues of our time.
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