It formally took effect on Monday after four more countries (Brazil, Kenya, Tonga and Vietnam) adopted it
The agreement will help limit the depletion of fish stocks in the sea. REPRESENTATION PIC/ISTOCK
A World Trade Organisation (WTO) agreement aimed at reducing overfishing took effect on Monday, requiring countries to reduce subsidies doled out to fishing fleets and aiming to ensure sustainability of wildlife in the world’s seas and oceans by helping limit the depletion of fish stocks.
The Geneva-based trade body touts the deal as its first focusing on the environment, and the first broad and binding agreement on ocean sustainability. It formally took effect on Monday after four more countries (Brazil, Kenya, Tonga and Vietnam) adopted it.
The approvals mean 112 countries are on board, clearing by one country the requirement that at least two-thirds of WTO’s 166 members give formal acceptance. China, the US, and the European Union’s 27-member states are among those that have signed on, while India and Indonesia have been among the holdouts.
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