WTO Agreement on Fisheries Subsidies presented in HoR

Kathmandu: The World Trade Organisation (WTO) Agreement on Fisheries Subsidies has been tabled in today’s meeting of the House of Representatives.

Minister for Industry, Commerce and Supplies Damodar Bhandari put forth the Agreement in front of the Lower House, saying that the Agreement is aimed at preventing inappropriate extraction of biological resources in the sea thereby ensuring sustainable availability of marine fish.

Furthermore, Minister Bhandari mentioned that the Agreement prevents harmful fisheries subsidies that contribute to overfishing, illegal, unreported and unregulated fishing. He explained that the Agreement also prohibits fishing or providing subsidies to support such activities in marine areas beyond the jurisdiction of coastal countries and various regional fisheries managementorganisationss.

The Agreement was adopted by the 12th ministerial conference in Geneva of Switzerland, in 2022, marking a major step forward for ocean sustainability, the Minister informed.

Earlier in the meeting, Speaker of the House, Devraj Ghimire, read out a letter regarding the portfolios received from the Office of the Prime Minister and Council of Ministers. The next meeting of the HoR is scheduled for Tuesday.

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