Fish talks: U.S. official says successful talks crucial for WTO

The United States said on Thursday it was pushing hard for the World Trade Organ...

WASHINGTON - The United States said on Thursday it was pushing hard for the World Trade Organization to reach agreement on cutting fishing subsidies in coming months and viewed those talks as a test of whether the global body can still achieve multilateral deals.

“In a way, it won’t be the WTO that saves the fish, it’ll be the fish that save the WTO,” Shea told an event hosted by the Asia Society think tank in Washington. Despite the challenges, Shea said he hoped a fishing subsidies deal could be struck in time for a WTO meeting in Kazakhstan in June. Experts said global fish stocks could collapse unless a deal is reached soon to ban harmful fisheries subsidies worth over $30 billion annually. More than 90% of fish stocks are overfished or at maximum sustainable levels, according to the U.N. Food and Agriculture Organization.

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