Negotiating Group on Rules - Possible Approaches to Improved Disciplines on Fisheries Subsidies - Communication from Chile

World Trade Organization TN/RL/W/115 10 June 2003 (03-3006) Negotiating Group on Rules Original: Spanish POSSIBLE APPROACHES TO IMPROVED DISCIPLINES ON FISHERIES SUBSIDIES Communication from Chile General background 1. Considerable progress has been made in the last two meetings with submissions in addition to those already received from the group of countries known as "Friends of Fish" (TN/RL/W/58 and TN/RL/W/3) and the papers from the United States (TN/RL/W77) and the European Communities (TN/RL/W/82). Chile wishes to add the following contribution. 2. In line with the above documents, Chile considers that the existing disciplines of the Agreement on Subsidies and Countervailing Measures (SCM Agreement) do not adequately regulate fisheries subsidies, primarily because fisheries resources are a classic example of the "tragedy of the commons". Indeed, while it is in the global interest to conserve fish stocks, the immediate incentive for owners