Consider the following statements, with reference to the WTO’s Agreement on Fisheries Subsidies:
1. The agreement bans subsidies for fishing in overfished stocks.
2. Developing and Least Developed Countries are permitted to provide subsidies within their exclusive economic zones.
3. India has ratified the agreement.

How many of the statements above are correct ?
(a) Only one
(b) Only two
(c) All three
(d) None

Question

Consider the following statements, with reference to the WTO&rsquo;s Agreement on Fisheries Subsidies:
1. The agreement bans subsidies for fishing in overfished stocks.
2. Developing and Least Developed Countries are permitted to provide subsidies within their exclusive economic zones.
3. India has ratified the agreement.

How many of the statements above are correct ?
(a) Only one
(b) Only two
(c) All three
(d) None

ONLiNE UPSC · Accepted Answer

Statement 1 is correct: WTO members have forged an &lsquo;Agreement on Fisheries Subsidies&rsquo; which sets new global rules to curb harmful subsidies and protect global fish stocks. It bans the subsidy support for fishing in overfished stocks.

Statement 2 is correct: For a period of 2 years from the date of entry into force of this Agreement, subsidies granted or maintained by developing countries and Least Developed Countries (LDCs), up to and within the Exclusive Economic Zones (EEZ) shall be exempt from actions.

Statement 3 is not correct: The Agreement will enter into force upon acceptance of its legal instrument by two-thirds of the members. India joined the consensus in June 2022 during the 12th WTO Ministerial Conference in Geneva, where the agreement was adopted, but has not yet ratified the agreement.

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WTO's Agreement on Fisheries Subsidies

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M Question 1	⏱ 0
Consider the following statements, with reference to the WTO’s Agreement on Fisheries Subsidies: 1. The agreement bans subsidies for fishing in overfished stocks. 2. Developing and Least Developed Countries are permitted to provide subsidies within their exclusive economic zones. 3. India has ratified the agreement. How many of the statements above are correct ? (a) Only one (b) Only two (c) All three (d) None