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Managing Externalities in the WTO: The Agreement On Fisheries Subsidies

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  • Bernard M Hoekman
  • Petros C Mavroidis
  • Sunayana Sasmal

Abstract

By prohibiting subsidies that support illegal, unregulated, or unreported fishing activities and contribute to the unsustainable depletion of marine resources, the 2022 Agreement on Fisheries Subsidies (AFS) is the first World Trade Organization (WTO) treaty to recognize that a specific trade policy instrument can have adverse consequences for the global commons. We assess the AFS as such and through the lens of the broader challenge confronting WTO members in determining how to address subsidy spillovers and adapt trade policy rules to protect the global commons. While the AFS is a step forward for the WTO, definitions of what constitutes a subsidy and the approach taken to ensure transparency are those that have been part of the WTO since 1995 and have become the cause for contestation and calls for reform. We suggest ways in which birth defects can be addressed while implementing and expanding the coverage of the agreement.

Suggested Citation

  • Bernard M Hoekman & Petros C Mavroidis & Sunayana Sasmal, 2023. "Managing Externalities in the WTO: The Agreement On Fisheries Subsidies," Journal of International Economic Law, Oxford University Press, vol. 26(2), pages 266-284.
    • Handle: RePEc:oup:jieclw:v:26:y:2023:i:2:p:266-284.
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    References listed on IDEAS

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    1. Bernard Hoekman & Douglas Nelson, 2020. "Rethinking international subsidy rules," The World Economy, Wiley Blackwell, vol. 43(12), pages 3104-3132, December.
    2. Robert Wolfe, 2021. "Informal Learning and WTO Renewal: Using Thematic Sessions to Create More Opportunities for Dialogue," Global Policy, London School of Economics and Political Science, vol. 12(S3), pages 30-40, April.
    3. Bernard Hoekman & Charles Sabel, 2019. "Open Plurilateral Agreements, International Regulatory Cooperation and the WTO," Global Policy, London School of Economics and Political Science, vol. 10(3), pages 297-312, September.
    4. Claire Delpeuch & Emanuela Migliaccio & Will Symes, 2022. "Eliminating government support to illegal, unreported and unregulated fishing," OECD Food, Agriculture and Fisheries Papers 178, OECD Publishing.
    5. Aaron Cosbey & Petros C. Mavroidis, 2014. "A Turquoise Mess: Green Subsidies, Blue Industrial Policy and Renewable Energy: The Case for Redrafting the Subsidies Agreement of the WTO," Journal of International Economic Law, Oxford University Press, vol. 17(1), pages 11-47.
    6. Gregory Shaffer & Robert Wolfe & Vinhcent Le, 2015. "Can Informal Law Discipline Subsidies?," Journal of International Economic Law, Oxford University Press, vol. 18(4), pages 711-741.
    7. U. Sumaila & Ahmed Khan & Andrew Dyck & Reg Watson & Gordon Munro & Peter Tydemers & Daniel Pauly, 2010. "A bottom-up re-estimation of global fisheries subsidies," Journal of Bioeconomics, Springer, vol. 12(3), pages 201-225, October.
    8. Arthur Appleton, 2017. "Options For Improving The Transparency Of Fisheries Subsidies," Working Papers id:12336, eSocialSciences.
    9. Aaron Cosbey & Petros C. Mavroidis, 2014. "A Turquoise Mess: Green Subsidies, Blue Industrial Policy and Renewable Energy: the Case for Redrafting the Subsidies Agreement of the WTO," RSCAS Working Papers 2014/17, European University Institute.
    10. Petros C. Mavroidis, 2014. "A Turquoise Mess: Green Subsidies, Blue Industrial Policy and Renewable Energy: the Case for Redrafting the Subsidies Agreement of the WTO," EUI-RSCAS Working Papers p0368, European University Institute (EUI), Robert Schuman Centre of Advanced Studies (RSCAS).
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