Thread by @factsforupsc

#Prelimspotentialquestions #PPQ

The Agreement on Fisheries Subsidies at the WTO
Is impt for prelims

Let's see statement

⭕️S1 Probhit subsdiy provided Illegal, Unreported and Unregulated (IUU) fishing

⭕️S2 2 years transition period Developing & LDCs

Sol👇🧵

Recently concluded WTO Agreement on Fisheries Subsdiy will prohibit subsidies from being provided for Illegal, Unreported and Unregulated (IUU) fishing and overfished stocks.

This negotiations on fisheries subsidies were launched in 2001 at the Doha Ministerial Conference
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✅️ 1️⃣st WTO agreement to focus on the environment

✅️ 1️⃣st broad, binding, multilateral agreement on ocean sustainability,

✅️ 2️⃣nd agreement reached at the WTO since its inception.
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➡️For the Agreement to become operational, two-thirds of members have to deposit their “instruments of acceptance” with the WTO.
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✋️No prohibition has been imposed on a WTO Member regarding granting or maintaining subsidy to its vessel or operator as long as it is not carrying out IUU.
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✋️Agreement also provides flexibility to extend subsidies concerning overfished stocks if measures are taken to rebuild fish stocks to a biologically sustainable level, which supports our fishing communities
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❇️Under the Special and Differential Treatment (S&DT), Developing Countries and Least Developed Countries (LDCs) have been allowed a transition period of two years from the date of entry into force of this Agreement.
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🚫India is already providing very low subsidy as compared to other nations ....like USA,China etc

✅️India is the second largest fish producing country
✅️India is the 4th largest exporter of fish in the world
✅️In India Inland Fisheries >> Marine Fisheries
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So both s1 and s2 statements are correct ✅️

📌Agreement on Fisheries Subsidies is important for Prelims
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