The head of negotiations at the World Trade Organization (WTO), which aims to cut billions of dollars in subsidies for the fishing industry, said he believes an outcome is possible in time for a major ministerial conference later this month. .
Environmentalists say an agreement in the WTO to restrict subsidies that promote trawling is a key measure that should be taken to help declining fish populations recover.
While negotiators have never been this close to an agreement in 20 years of talks, some crucial points remain unresolved, such as details on how the agreement will apply to developing countries.
“The work is not finished yet, we still have a little distance to go“, he pointed Santiago Wills, the representative of Colombia to the OMC and who directs the dialogues on fishing.
“But … I sincerely believe that we can deliver a balanced and meaningful result on fisheries subsidies for MC12″ He added, referring to the ministerial conference that the OMC will be held on November 30.
Wills presented on Monday to the members of the OMC a revised draft agreement that he said constitutes a “big step” around poorer nations seeking waivers. Intensive negotiations on the draft, “clause by clause“Will begin on Tuesday, he added.
Observers see the agreement as essential to the legitimacy and relevance of the OMCespecially since its dispute resolution capabilities are hampered by differences between the United States and other influential members to reform its high court.
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