The Committee on Fisheries Subsidies was established following the entry into force of the Agreement on Fisheries Subsidies on 15 September, as mandated by Article 9 of the Agreement.

The Committee will be a forum for members to maintain regular dialogue on their subsidized fishing practices, providing opportunities for members to raise and address questions and concerns related to fisheries subsidies. This will allow for fisheries subsidies information to be centralized, thereby increasing transparency. The Committee will also review annually the operation and implementation of the Agreement, and will report to the WTO Council for Trade in Goods.

To support their implementation of the Agreement, developing and least-developed country (LDC) members that have ratified it are eligible to submit funding requests through the WTO Fish Fund. The Fund will regularly report on its activities to the Committee.

Ms Lizano said: "Today is a day to celebrate a historic occasion. I feel deeply honoured to be the first person to chair such a relevant Committee, which will oversee the first WTO Agreement with environmental sustainability at its core."

The Committee on Fisheries Subsidies shall meet not less than twice a year. It will also maintain close contact with relevant international fisheries management organizations. No later than five years after the Agreement's entry into force, the Committee will review the Agreement's operations to identify potential modifications.