Hong Kong, Ukraine Ratify WTO Fisheries Deal

Hong Kong and Ukraine formally accepted the World Trade Organization's Agreement on Fisheries Subsidies, becoming the 15th and 16th parties to do so, the WTO announced. The deal would impose rules to crack down on subsidies for illegal, unreported and unregulated fishing. The announcement by Hong Kong and Ukraine means nearly 40% of member states have ratified the deal, which requires acceptance by two-thirds of WTO members to enter into force.

Drew Lai, acting permanent representative for Hong Kong, said that the conclusion of the agreement was a "milestone achievement" at the 12th Ministerial Conference. Ukrainian Minister of Economy Yuliia Svyrydenko said Ukraine's fisheries sector "has been severely affected by Russia's aggression," making it now impossible to fish in the Black Sea and the Sea of Azov. "Uniting efforts is important for Ukraine," she said.