The country is proud to be among the final four countries along with Brazil, Kenya, and Tonga to help “activate” this landmark agreement.

At the WTO General Council special session, Ambassador Mai Phan Dung, Head of the Permanent Mission of Vietnam to Geneva, submitted the instrument on behalf of the State of Vietnam. The event not only enhances Vietnam’s credibility and standing as a reliable and responsible partner in the international community but also demonstrates its determination to join the fight against illegal, unreported, and unregulated (IUU) fishing, a critical issue for Vietnam’s seafood export markets.

Adopted at the WTO’s 12th Ministerial Conference (MC12) in Geneva in 2022 after more than two decades of difficult negotiations, the Agreement on Fisheries Subsidies is the WTO’s first multilateral accord focused on protecting the marine environment and promoting sustainable fisheries.

The agreement establishes binding rules, prohibiting subsidies for IUU fishing as well as for fishing of overexploited stocks and in areas beyond national jurisdiction. Eliminating billions of dollars in harmful subsidies each year is seen as a fundamental measure to restore marine ecosystems, safeguard fishery resources, and prevent the depletion of ocean resources.

For Vietnam, ratification reaffirms its steadfast commitment to a rules-based, fair, and sustainable international trading system, while also bringing practical domestic benefits.

The agreement is expected to serve as an important driver for restructuring Vietnam’s fisheries sector toward modernization, sustainability, and science-based practices.

Phasing out harmful subsidies will encourage investment in advanced fishing technologies, reduce post-harvest losses, strengthen management capacity, and better meet the requirements of major export markets. In the long run, a healthy ocean is the most reliable guarantee for the livelihoods of approximately 1.45 million fishers and coastal communities, while directly contributing to Vietnam’s blue economy goals.

By bringing the WTO Agreement on Fisheries Subsidies into force, Vietnam is actively shaping a future where trade and sustainability go hand in hand, for a blue ocean that is the common heritage of all humankind.

On this occasion, WTO Director-General Ngozi Okonjo-Iweala stressed that the new agreement will help protect ocean ecosystems as well as the livelihoods and food security of millions of people who depend on them.

She emphasized that this outcome reflects the vision set out in the Marrakesh Agreement more than 30 years ago, namely that higher living standards and environmental sustainability can and must go hand in hand, and that trade policy frameworks can promote this goal by supporting Sustainable Development Goal 14.6. According to her, the Agreement on Fisheries Subsidies also demonstrates how trade can serve both people and the planet, marking an important milestone for the WTO that deserves recognition.

Vietnam consults WTO experts on export-related trade risks

VOV.VN - Minister Counsellor Pham Quang Huy, deputy head of Vietnam's Permanent Mission to Geneva, recently held a working session with representatives of the St. Gallen Endowment and attended a seminar on trade risk exposure and country responses to tariff increases.

Vietnam participates in Norway’s Trade Policy Review at WTO

VOV.VN - The Permanent Mission of Vietnam in Geneva attended the 8th Trade Policy Review (TPR) of Norway, held at the headquarters of the World Trade Organisation (WTO) in Geneva, Switzerland, on June 30.