Executive summary

This report contains the Joint Standing Committee on Treaties’ (JSCOT) review of the following major treaty action:

• Protocol Amending the Marrakesh Agreement Establishing the World Trade Organization Agreement on Fisheries Subsidies (Geneva, 17 June 2022) (the Protocol).

The Protocol would insert the Agreement on Fisheries Subsidies (the Agreement) into Annex 1A of the Marrakesh Agreement Establishing the World Trade Organisation (WTO Agreement). Annex 1A contains the WTO multilateral agreements on trade in goods.

The Agreement, which the WTO regards as ‘a historic achievement’ was adopted at the 12th Ministerial Conference (MC12) on 17 June 2022. The WTO says that the Agreement ‘marks a major step forward for ocean sustainability by prohibiting harmful fisheries subsidies, which are a key factor in the widespread depletion of the world’s fish stocks.’ It is the first WTO agreement to focus on the environment, and it seeks to deliver on a key Sustainable Development Goal target.

In doing so, the Agreement will provide legally binding rules for fisheries-specific subsidies concerning marine wild capture fishing and fishing related activities at sea. The Agreement does not include aquaculture and inland fishing. The Agreement is said to contribute to ocean sustainability and seeks to address the decline of global marine capture fisheries resources.

Specifically, the Agreement contributes to ocean sustainability by prohibiting subsidies to a vessel or operator that is engaged in illegal, unreported, and unregulated (IUU) fishing, in addition to prohibiting subsidies for fishing of overfished stocks and unregulated high seas fishing. Australia believes it is important to address the sustainability of the world’s global marine capture fisheries resources. The Agreement includes the creation of a voluntary WTO funding mechanism to support technical and capacity building assistance for developing country members and Australia is the first country to make a pledge - of AUD 2 million - to the new Fisheries Funding Mechanism.

Australia seeks to secure an agreement that protects its national and commercial interests which is ensured through this Agreement. The Government notes the Agreement is also ‘consistent with Australian policies and positions relating to healthy oceans, the blue economy and Australian fisheries harvesting policies.’ Australia’s wild capture fisheries production was valued at AUD 1.4 billion in 2021. At the same time, Australia is responsible for the biodiversity and environmental condition of a large and remarkable ocean estate which includes globally critical ecosystems like the World Heritage listed Great Barrier Reef, the Ningaloo Coastal Area, and numerous threatened and endangered species.

The committee supports the Agreement and recommends binding treaty action be taken.