The Philippines joined fellow World Trade Organization (WTO) members in marking the entry into force of the landmark WTO Agreement on Fisheries Subsidies, a global milestone aimed at curbing harmful subsidies that contribute to overfishing and marine resource depletion.

The celebration follows the Philippines’ formal deposit of its instrument of acceptance during the 13th WTO Ministerial Conference held in Abu Dhabi on 27 February 2024. As an archipelagic nation with over 115 million citizens—many of whom rely on fisheries for food and livelihood—the Philippines emphasized the significance of this agreement in safeguarding marine biodiversity and supporting small coastal communities.

To aid implementation, the WTO has launched a Fisheries Subsidies Fund offering technical assistance and capacity-building support to developing countries. The Philippines stands to benefit from Category 1 Grant Projects of up to US$50,000 and Category 2 Grant Projects of up to US$300,000, which will help strengthen sustainable coastal management and deliver tangible benefits to rural fisherfolk.

Ambassador Manuel A.J. Teehankee, the Philippines’ Permanent Representative to the WTO, hailed the agreement as a “collective victory for global sustainability” and a major step forward for millions of fisherfolk dependent on healthy oceans. He noted that the agreement—WTO’s first sustainability-focused pact—proves that trade rules can be powerful tools for environmental protection and inclusive development.

“For the Philippines, this Agreement is not only about protecting our marine biodiversity, but also about ensuring food security and building resilient coastal communities,” Ambassador Teehankee said. “We welcome the establishment of the Fisheries Fund, which will help developing countries like ours translate commitments into concrete action.”

The Philippines reaffirmed its commitment to work closely with WTO members to ensure effective implementation of the agreement, reinforcing its role as steward of one of the world’s richest marine ecosystems.