17 Dec 2011

Call by NZ for end to fishing subsidies

10:11 am on 17 December 2011

New Zealand Trade Minister Tim Groser has led a call at a WTO ministerial conference in Geneva for urgent action on fishing subsidies to protect global fish stocks.

New Zealand is coordinating a group of countries including Argentina, Australia, Chile, Colombia, Ecuador, Norway, Peru and the United States.

The group has issued a joint statement urging a reduction in global fishing subsidies worth $US20 billion per year, which are blamed in part for over-fishing.

Mr Groser told the meeting that an estimated 85% of the world's fish stocks were fully exploited, over exploited, depleted or in recovery.

He said depleted fish stocks is the clearest example today of the tragedy of the global commons and reducing subsidies is a central part of any solution.

Mr Groser said a primary food source is at stake for developing countries in the Pacific, where half of all wild fish are caught.