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Subsidies leading to overfishing opposed in international effort among group of WTO members

( September 14, 2016, 18:35 GMT | Official Statement) -- MLex Summary: The US, along with 12 other World Trade Organziation members, announced an initiative to eliminate subisidies that lead to overfishing. The US trade representative quoted UN statistics that 58 percent of the world’s fisheries are being harvested at capacity and that 30 percent are being overfished. It also said that fishing to capacity and overfishing frequently lead to illegal fishing. Trade chief Michael Forman said US participation in the initiative would “level the playing field” for US fishing enterprises competing in world markets. The announcement of the antisubsidy initiative came a day before an international conference on ocean policy.Statement follows in full:...

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