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    WTO seeks to land big prize after 20 years of fish talks

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    WTO hoping to reach deal to cut fishing subsidies after 20 years
    World spends over $35 billion a year to subsidise fisheries
    Deal could be huge step in fighting depletion of fish stocks
    Developing countries push for exemptions
    GENEVA, July 14 (Reuters) – Negotiators are hoping the World Trade Organization will on Thursday not only deal a major blow to overfishing after 20 years of trying, but in doing so also dispel doubts about its own usefulness.

    The global trade watchdog, whose 164 members are also at loggerheads over how it should settle disputes, has not clinched a major trade deal for years, and analysts say it needs to land one this year to maintain its credibility.

    The prize could be a sharp reduction of the widespread fishing subsidies that are generally held to be the single biggest factor in depleting the world’s fish stocks.

    The WTO says it is “on the cusp” of a deal; Director-General Ngozi Okonjo-Iweala said the ministerial meeting, being held virtually, “should kick us along the path towards agreement”, before a November session intended to seal the deal.

    WTO hoping to reach deal to cut fishing subsidies after 20 years
    World spends over $35 billion a year to subsidise fisheries
    Deal could be huge step in fighting depletion of fish stocks
    Developing countries push for exemptions
    GENEVA, July 14 (Reuters) – Negotiators are hoping the World Trade Organization will on Thursday not only deal a major blow to overfishing after 20 years of trying, but in doing so also dispel doubts about its own usefulness.

    The global trade watchdog, whose 164 members are also at loggerheads over how it should settle disputes, has not clinched a major trade deal for years, and analysts say it needs to land one this year to maintain its credibility.

    The prize could be a sharp reduction of the widespread fishing subsidies that are generally held to be the single biggest factor in depleting the world’s fish stocks.

    The WTO says it is “on the cusp” of a deal; Director-General Ngozi Okonjo-Iweala said the ministerial meeting, being held virtually, “should kick us along the path towards agreement”, before a November session intended to seal the deal.

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