THE Philippines backs the creation of a World Trade Organization (WTO) fund that would support developing countries’ capacity to implement the draft agreement on fisheries subsidies.

Agriculture Undersecretary for Agri-Industrialization and for Fisheries Cheryl Marie Natividad-Caballero said the Philippines shall benefit from such a funding mechanism in improving its capacity and technical knowledge in managing its fisheries resources.

“The Philippines has undertaken initiatives and research on science-based approaches to sustainable fisheries management and will benefit from funding grants that will enhance its capacity and technical knowledge towards ensuring up to date resource management mechanisms,” Natividad-Caballero said in a press conference at the 12th WTO Ministerial Conference (MC12) in Geneva on Tuesday.

“As the Philippines enhances our capacities, we stand ready to collaborate and cooperate with other WTO member-countries

for holistic fisheries management anchored on an ecosystems-based approach and which promotes the latest technologies on fisheries stock assessment and tools for data collection,” she added.

The “envisioned” fisheries funding mechanism, she stressed, is “important” for the “effective implementation” of the Article 7 of the draft fisheries agreement seeking to make available technical assistance and capacity building assistance to developing countries and least-developed countries (LDCs).

“The Philippines, on its part, will endeavor to integrate elements included in the concept note as priorities in its trade-related technical assistance projects and sustainable fisheries management programs,” said Natividad-Caballero, who was named by the government to engage in the fisheries negotiations at the four-day high-level MC12.

WTO Director-General Ngozi Okonjo-Iweala said “many” WTO member-countries are in need of capacity building and technical assistance in order for them to “better manage” their fisheries and implement the disciplines under the draft fisheries agreement.

“We all know that a healthy productive and sustainable blue economy is one where our oceans are replenished, where our fish stocks are also healthy, and where fishermen and fisherwomen who depend on such resources continue to earn a decent living,” Okonjo-Iweala said at the press conference, a few hours before the negotiations on the draft fisheries deal that would curb harmful subsidies among WTO member-countries.

Okonjo-Iweala revealed that the WTO fisheries funding mechanism has received $5 million in informal pledges, half of the initial $10 million in targeted funds.