Core Points - The WTO's Fisheries Subsidies Agreement has officially come into effect following the submission of approval documents by four member countries: Brazil, Kenya, Vietnam, and Tonga [1] - WTO Director-General Ngozi Okonjo-Iweala described the agreement's enactment as a landmark event in global governance, providing an important public good for the multilateral trading system to address global challenges [1] - The agreement mandates the elimination of subsidies for illegal, unreported, and unregulated fishing, as well as subsidies for overfishing and unregulated high seas fishing [1] - The Fisheries Subsidies Agreement was adopted at the 12th WTO Ministerial Conference in June 2022 and opened for member accession thereafter, with China being one of the early adopters, having approved the agreement on June 27, 2023 [1]

Core Viewpoint - The upcoming United Nations Ocean Conference aims to accelerate actions and mobilize all stakeholders to protect and sustainably use the oceans, focusing on marine biodiversity, fisheries subsidies, and the "30 by 30" target [1] Group 1: Marine Biodiversity Protection - The conference will address the goal of obtaining 60 ratifications for the "Agreement on the Conservation and Sustainable Use of Marine Biological Diversity of Areas Beyond National Jurisdiction," which is crucial for its effectiveness [2] - As of June 5, only 32 countries or regions have ratified the agreement, indicating significant work remains to reach the target [2] - French President Macron emphasized the need for sustainable management of the high seas and the establishment of marine protected areas [2] Group 2: Fisheries Subsidies - The conference will push for the implementation of the "Fisheries Subsidies Agreement," which aims to curb harmful fishing subsidies and establish binding multilateral rules [3] - The agreement prohibits illegal, unreported, and unregulated fishing, as well as subsidies for overfished species and fishing in unregulated high seas [3] - Currently, 101 out of the required 111 World Trade Organization members have accepted the agreement, with China being one of the early signatories [3] Group 3: "30 by 30" Target - The "30 by 30" target aims to protect at least 30% of global land and ocean by 2030, but only 2.8% of the ocean is currently assessed as potentially effectively protected [4] - Analysts suggest that financial tools like blue bonds and blue loans will be crucial to bridge the funding gap needed to achieve this target [4] Group 4: Conference Outcomes - The conference will aim to adopt a concise, action-oriented declaration known as the "Nice Ocean Action Plan," which will include voluntary commitments [5] - The success of the conference in achieving consensus and translating it into actionable steps will significantly impact future global ocean protection and sustainable use efforts [5]