December 02, 2007	Sunday	Ziqa’ad 21, 1428

GENEVA, Dec 1: The World Trade Organisation on Friday proposed the elimination of most subsidies for the fishing industry in a compromise package submitted to the global body’s 151 members.

The text, presented by Guillermo Valles Galmes, chair of the WTO’s negotiating group on rules, proposes the scrapping of all subsidies for the acquisition, construction, repair or renewal of fishing vessels.

It also calls for the end of subsidies towards the operating costs of fishing fleets such as licence fees, or fuel purchases as is currently the case in the EU.

Port infrastructure subsidies are also scheduled for the chop along with aid to wild marine life fishing.

Environmental lobby group Oceana estimates that world fishing fleets are kept afloat by subsidies amounting to between 30-34 billion dollars (20-23 billion euros) a year.

The United States called in March for a total WTO ban on fishing subsidies -- a move opposed by Japan and South Korea.

Japan is the world’s largest fishing subsidiser with annual payments amounting to $5.3 billion a year, according to figures provided by Oceana.

The European Union doles out annual subsidies of $3.3 billion, India $4.4 billion and China $2.6 billion, Oceana said.---AFP