HON. RICHARD MARU, Papua New Guinea’s Minister for International Trade and Investment, made a resolute statement at the World Trade Organization (WTO) regarding the long-discussed Fisheries Subsidies Agreement. Addressing concerns over the future of the Pacific fisheries industry, Minister Maru underscored the critical importance of safeguarding the region’s marine resources.
With the Pacific Islands supplying 50 percent of the world’s tuna, of which PNG contributes 10 percent, Minister Maru emphasized the need to address
overcapacity and overfishing. He voiced strong opposition to a fisheries regime that permits unsustainable exploitation by distant water fishing nations through harmful subsidies.
Minister Maru’s stance aligns with the collective voice of Pacific ACP Member States, including Fiji and Samoa, who advocate for a standstill and rollback provision for top subsidizers. He highlighted the necessity of a pragmatic and credible agreement to eliminate subsidies contributing to overcapacity and overfishing, in line with Sustainable Development Goal (SDG) 14.6.
In his address, Minister Maru outlined key concerns regarding the proposed agreement’s provisions. He stressed the importance of effective disciplines on harmful subsidies, particularly those sustaining distant water fleets that exploit Pacific waters. He called for balanced treatment, considering the unique circumstances of small-scale fisheries in Pacific Island states.
Moreover, Minister Maru advocated for transparency and notification in the agreement, emphasizing the exclusion of larger subsidizers from certain provisions to protect the interests of smaller states. He reaffirmed PNG’s commitment to reaching a favorable outcome in the negotiations, emphasizing the imperative of responsible harvesting to ensure the sustainability of global fish supplies.
Minister Maru’s unwavering stance at the WTO reflects PNG’s dedication to preserving its marine resources and securing a sustainable future for its people. By championing the interests of Pacific Island nations, he underscores the importance of international cooperation in addressing shared challenges and fostering equitable economic development.
In a pivotal address at the World Trade Organization (WTO), Papua New Guinea’s Minister for International Trade and Investment, Hon. Richard Maru, emphasized the urgent need to protect the Pacific fisheries industry. With the Pacific Islands supplying half of the world’s tuna, Minister Maru underscored the threat posed by overcapacity and overfishing.
His impassioned plea for a Fisheries Subsidies Agreement that prioritizes sustainability reflects the Pacific region’s commitment to responsible resource management. By advocating for a standstill and rollback provision for top subsidizers, Minister Maru seeks to ensure a fair and equitable outcome for Pacific Island nations.
Moreover, Minister Maru’s call for transparency and notification in the agreement highlights the importance of accountability in fisheries management. His unwavering commitment to reaching a favorable agreement underscores PNG’s dedication to preserving its marine resources and fostering sustainable economic development for its people.
As Minister Maru continues to champion the interests of Pacific Island nations on the global stage, his advocacy serves as a beacon of hope for the future of the region’s fisheries and the livelihoods they support.
Trade is essential for global prosperity and economic development. It facilitates the exchange of goods and services between nations, allowing them to specialize in producing what they do best and acquire what they lack. By promoting specialization and efficiency, trade increases productivity and fosters innovation.
Moreover, trade creates opportunities for growth by expanding markets and attracting foreign investment. It generates employment, boosts incomes, and reduces poverty by providing access to a wider range of goods at competitive prices. Additionally, trade promotes cultural exchange and mutual understanding among nations, contributing to diplomatic relations and global cooperation.
Furthermore, trade stimulates economic growth by fostering competition, driving technological advancements, and encouraging investment in infrastructure and human capital. It also enables countries to diversify their sources of income and mitigate the risks associated with domestic market fluctuations.
In conclusion, trade plays a vital role in driving economic growth, reducing poverty, and fostering cooperation among nations. It is a powerful tool for promoting prosperity and improving the quality of life for people around the world.
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