Director-General Okonjo-Iweala said: “I extend my deep appreciation to Australia for its very generous donation to the WTO Fisheries Funding Mechanism. I am heartened to see Australia so rapidly make good on its pledge to support the Fund. Australia's donation is a strong affirmation of its support for the Agreement on Fisheries Subsidies as a means to improving the health of our ocean, and will make a real difference for developing and LDC members seeking assistance to implement the new agreement.”

Assistant Minister Ayres said: “Australia is pleased to make this contribution of AUD 2 million to the WTO Fisheries Funding Mechanism. It will help developing WTO members implement the historic agreement reached at the 12th Ministerial Conference (MC12) and ultimately help curb overfishing and bolster food security. We stand ready to continue this important work with the WTO membership and encourage other members to contribute to the Fund or request assistance.”

Because the new Agreement on Fisheries Subsidies will involve adjustments and enhancements to WTO members' legislative and administrative frameworks, transparency and notification requirements, and fisheries management policies and practices, Article 7 of the Agreement provides for the creation of a funding mechanism to provide targeted technical assistance and capacity building to help developing and least-developed country members with implementation once they have deposited their instruments of acceptance.

The fund is operated by the WTO with partner organizations, namely the Food and Agriculture Organization (FAO) of the United Nations, the International Fund for Agricultural Development, and the World Bank Group, which bring to bear relevant expertise and allow the WTO to leverage its own expertise.

More information on the fund, which became operational on 8 November, is available here.

Including the most recent donation, Australia's total contribution to the various WTO trust funds from 2002 to 2023 is CHF 21,253,455.