On 17.06.2022, within the framework of the World Trade Organization, the Protocol Amending the Marrakesh Agreement was adopted, through which the Agreement on Fisheries Subsidies was incorporated into Annex 1A, introducing binding disciplines aimed at limiting subsidies that affect the sustainability of marine resources.
The Agreement applies to specific subsidies related to marine capture fishing and fishing-related activities at sea, in accordance with the Agreement on Subsidies and Countervailing Measures, excluding aquaculture and inland fishing. Within this framework, subsidies are prohibited for operators or vessels involved in illegal, unreported and unregulated fishing (IUU fishing), as well as those aimed at the exploitation of overfished stocks, unless they contribute to their sustainable recovery.
Likewise, the Agreement establishes restrictions on subsidies outside jurisdiction or in contexts of uncertainty regarding the status of resources, together with strengthened notification and transparency obligations.
The aforementioned Protocol of Amendment was adopted by the Ministerial Conference of the World Trade Organization in the city of Geneva, Swiss Confederation, on 17.06.2022 and internally ratified through Supreme Decree No. 011-2023-RE, dated 20.06.2023, entering into force on 15 September 2025.
To view the complete Protocol, click the following link: https://tinyurl.com/mursrw6y