additional provisions on fisheries subsidies:

notification of annual aggregate level of fisheries subsidies

DRAFT General Council Decision

Submission from Iceland^*

The following submission, dated 11 July 2024, is being circulated at the request of the delegation of Iceland.

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The General Council;

        Having regard to paragraph 1 of Article IX of the Marrakesh Agreement Establishing the World Trade Organization (the "WTO Agreement");

Conducting the functions of the Ministerial Conference pursuant to paragraph 2 of Article IV of the WTO Agreement;

Noting the General Council Decision of […] 2024 on Additional Provisions on Fisheries Subsidies (WT/L/…);

        Considering that Article C.3 of the Additional Provisions on Fisheries Subsidies requires each Member to submit to the Committee on Fisheries Subsidies its annual aggregate level of fisheries subsidies, building upon its existing notifications under Article 25 of the Agreement on Subsidies and Countervailing Measures and Article 8.1 of the Agreement on Fisheries Subsidies, not later than 240 days after the entry into force of the Additional Provisions on Fisheries Subsidies, and thereafter, in the Member's regular notifications of fisheries subsidies under Article 25 of the Agreement on Subsidies and Countervailing Measures and Article 8.1 of the Agreement on Fisheries Subsidies;

        Recognizing the importance of comprehensive, accurate, and timely notifications of each Member's annual aggregate level of fisheries subsidies to achieving the objectives and the effective operation of the Additional Provisions on Fisheries Subsidies and, in particular, of the disciplines contained in Article A.1 and Article A.2 thereof, and of the reviews referred to in Article D.1 thereof;

        Recalling that the WTO Fisheries Funding Mechanism (the "Fish Fund") has been established pursuant to Article 7 of the Agreement on Fisheries Subsidies to provide developing country Members and least developed country Members that have accepted the Protocol Amending the WTO Agreement Establishing the World Trade Organization, Agreement on Fisheries Subsidies, done at Geneva on 17 June 2022 (the "2022 Protocol"), with technical assistance and capacity building to implement the disciplines of that Agreement; and

        Desiring to ensure that developing country Members and least developed country Members that have accepted the 2022 Protocol are also provided with targeted and appropriate technical assistance and capacity building, including through the operation of the Fund, for the purpose of implementing the notification obligations under Article C.3 of the Additional Provisions on Fisheries Subsidies from the date of adoption of this Decision;

        Decides as follows:

1.      Each Member is encouraged to notify its annual aggregate level of fisheries subsidies to the Committee on Fisheries Subsidies in accordance with Article C.3 of the Additional Provisions on Fisheries Subsidies, as soon as possible after the entry into force of the 2022 Protocol, with the first such notification to be made not later than 240 days from the entry into force of the Additional Provisions on Fisheries Subsidies.

2.      Upon its establishment, the Committee on Fisheries Subsidies shall, as a matter of priority, develop and adopt the template for notifications referred to in Article C.3 of the Additional Provisions on Fisheries Subsidies.

3.      Developing and least developed country Members that have accepted the 2022 Protocol and require assistance in notifying the aggregate level of fisheries subsidies as provided for in Article C.3 of the Additional Provisions on Fisheries Subsidies are encouraged to channel requests for such assistance through the Fish Fund. Members in a position to do so are encouraged to contribute to the Fish Fund.

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