African leaders must urge WTO members to end distant-water fishing subsidies

Published 2021년 11월 19일

Tridge summary

Mauritania's fishing industry, which contributes 10% to the country's GDP and employs 180,400 people, is threatened by distant-water fishing fleets aided by harmful government subsidies. These subsidies, totaling $22 billion annually, primarily from six countries and the EU, enable foreign vessels to outcompete local artisanal fishers in Mauritania and other African countries. The World Trade Organization is close to a agreement that could ban these subsidies, but African trade ministers are urging for an ambitious treaty to prevent dilution of the potential agreement by large fishing nations.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Other governments prop up their distant-water fleets, hurting fisheries throughout the region Mauritania's waters are rich in biodiversity: More than 600 fish species live in the northwest African nation's territorial waters. The fishing industry provides jobs for 180,400 people and accounts for up to 10% of the country's gross domestic product, according to the United Nations' Food and Agriculture Organization. But that wealth of marine resources is also the reason that fishing fleets from foreign nations flock to Mauritania's coast. These vessels are often powered by harmful government subsidies that pay for fuel and other expenses, artificially lowering the cost of fishing and enabling fleets to fish in areas where it would otherwise not make economic sense. One hundred thirty-five foreign vessels, primarily from Asia and Europe, traveled across the ocean in 2018 to fish in Mauritania's waters, also known as its exclusive economic zone (EEZ), according to a new research-based ...
Source: All Africa

Would you like more in-depth insights?

Gain access to detailed market analysis tailored to your business needs.
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.