Strengthening trade and marine protection: insights from multiple–level approach to fisheries subsidies

The surge in global demand, coupled with increased transportation and resource extraction, has drawn criticism for its perceived neglect of sustainable development in the realm of international trade. This economic activity poses threats by fostering the consumption and exploitation of marine resources, resulting in overfishing and habitat destruction. Recognized as a significant driver of overfishing, fisheries subsidies have been identified as a key concern. The Agreement on Fisheries Subsidies, effective since June 17, 2022, signifies a historic milestone in international cooperation aimed at preserving ocean sustainability. This policy brief firstly presented the universal approach for fisheries subsidies as well as the EU effort to enforce legal and sustainable fisheries practices. Then, the policy brief discussed the ASEAN legal framework for fisheries subsidies and some implications for Vietnam in fighting against IUU fishing.