Overview

• The agreement took effect after 112 acceptances passed the two‑thirds threshold, with the United States, European Union and China on board and India and Indonesia not yet accepted.
• It bans subsidies for illegal, unreported and unregulated fishing, for overfished stocks, and for unregulated high‑seas catches, while allowing targeted support to rebuild depleted stocks.
• Members must submit detailed notifications on subsidies and stock status, share lists of vessels found to engage in IUU fishing, and may invoke WTO dispute settlement to resolve breaches.
• Least‑developed and some developing countries get a two‑year exemption within their exclusive economic zones, eased reporting for small catch shares, and technical assistance backed by about $18 million.
• Talks now focus on a comprehensive pact to curb subsidies that drive overcapacity and overfishing, with failure to conclude it within four years triggering termination of the current agreement unless members decide otherwise.