The chair of the World Trade Organization’s Doha rules negotiating body has issued a draft text on addressing fisheries subsidies that contribute to overcapacity and overfishing. The genesis of this latest text appears to be the result of bilateral and small group meetings with the chair and select members said people familiar with the discussions.
The seven-page draft text issued on Wednesday is based on a two-tier, hybrid approach of sustainability criteria. It highlights the proposal from the United States on forced labor in fishing activities.
Our correspondent notes the chair provided a major carve-out to the two big subsidizers- the European Union and China- to continue their distant water fishing.
As deals are being struck, it is expected that China will accept Article B.5, opts out from S&DT in exchange for the United States dropping the forced labour provision, said people familiar with the negotiations.
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