The Agreement on Fisheries Subsidies (FSA), adopted by World Trade Organization (WTO) members, officially came into force on 15 September. This marks a significant milestone in efforts to protect marine resources while strengthening the global rules-based trading system. UNCTAD Secretary-General Rebeca Grynspan emphasized that the agreement demonstrates the power of multilateral cooperation, prioritizing sustainability and future generations over short-term gains.
The FSA bans some of the most harmful subsidies, such as those that support illegal, unreported, and unregulated fishing, fishing on overexploited stocks, and unregulated high seas fishing. By doing so, it directly contributes to Sustainable Development Goal 14.6 and curbs incentives that encourage unsustainable practices. With 37% of global fish stocks already below sustainable levels, this step is critical for safeguarding both food security and livelihoods for the 600 million people worldwide who depend on fisheries.
For developing economies, fisheries remain a vital source of income and trade. In 2023, global trade in primary fisheries and aquaculture products reached $114 billion, with 40% coming from developing countries. Yet, between 2020 and 2022, 41 economies provided $10.7 billion in fisheries subsidies, much of which risked fueling unsustainable practices. The success of the FSA will depend on helping developing countries enforce prohibitions, notify the WTO, reform subsidy systems, and redirect funds toward sustainable alternatives, supported by the WTO Fish Fund and special treatment provisions.
UNCTAD has consistently advocated for eliminating harmful subsidies and shifting support toward sustainable stock management, ecosystem restoration, and livelihoods. At the UN Ocean Forum in June 2025, Member States reinforced the urgency of FSA ratification while also calling for solutions to the $175 billion annual ocean finance gap through initiatives like the “Blue Deal.” Luz Maria de la Mora of UNCTAD reiterated the organization’s commitment to supporting implementation, stressing that trade policy can play a constructive role in addressing fisheries decline.
The FSA also aligns with broader global efforts such as the forthcoming UN Agreement on Marine Biological Diversity in areas beyond national jurisdiction. Finalizing negotiations to eliminate subsidies that drive overfishing and overcapacity will be essential to ensure progress is not undermined and to strengthen international regulatory frameworks.
