REPUBLIC oF CAMEROON Peace - Work - Fatherland NATIONAL ASSEMBLY 10" Lecistative PERIOD 2024 LEGISLATIVE YEAR 2 ORDINARY SESSION (June 2024) BILL N° 2057/PJL/AN TO AUTHORIZE THE PRESIDENT OF THE REPUBLIC TO RATIFY THE PROTOCOL AMENDING THE MARRAKESH AGREEMENT ESTABLISHING THE WORLD TRADE ORGANIZATION, BY THE INSERTION OF THE AGREEMENT OF 17 JUNE 2022 ON FISHERIES SUBSIDIES IN ANNEX 1A N° 92/AN/10 Scanné avec CamScannerREPUBLIC OF CAMEROON PEACE — WORK ~ FATHERLAND EXPLANATORY STATEMENT BILL TO AUTHORIZE THE PRESIDENT OF THE REPUBLIC TO RATIFY THE PROTOCOL AMENDING THE MARRAKESH AGREEMENT ESTABLISHING THE WORLD TRADE ORGANIZATION, BY THE INSERTION OF THE AGREEMENT OF 17 JUNE 2022 ON FISHERIES SUBSIDIES IN ANNEX 1A This bill seeks to authorize the President of the Republic to ratify the protocol amending the Marrakesh Agreement establishing the World Trade Organization (WTO), by the insertion of the Agreement of 17 June 2022 on Fisheries Subsidies in Annex 1a. This World Trade Organization (WTO) Agreement applies to specific subsidies for marine wild capture fishing and fishing-related activities at sea. It prohibits Members from granting or maintaining any subsidy: (i) to a vessel or operator engaged in illegal, unreported and unregulated (IUU) fishing or fishing-related activities; (ii) for fishing or fishing-related activities regarding overfished stocks; (ii) for fishing activities located outside the jurisdiction of a Member or a Regional Fisheries Management Organization. It also requires Members to take special care and exercise due restraint when granting subsidies to vessels not flying that Member's flag, or regarding stocks the status of which is unknown. Each Member shall clearly provide information on the implementation of its commitments to the Committee set up and composed of all other Members. Special and differential treatment shall be given to developing country Members, in particular: (i) a 2 (two)-year “peace clause” to comply with these disciplines on subsidies for IUU fishing or overfished stocks; (i) technical assistance to build their capacity; (ii) a voluntary WTO funding mechanism dedicated for such assistance; and (iv) exemption from inland fishing, aquaculture and other artisanal methods within the scope of the Agreement This legal instrument will contribute towards combating recurring IUU fishing along our coastlines that are prone to overexploitation of our fisheries resources by foreign fleets and which undermines Cameroon's prestige. It falls in line with Government's efforts to clean up and develop this major sector of our economy. Prohibiting such subsidies is likely to reduce the pressure exerted by foreign fleets on fisheries resources, thus helping to preserve food security of coastal communities and their activities. It is worth noting that Cameroon played an active role in negotiating this Agreement in its capacity as Coordinator of the Africa Group. The completion of the ratification process would reiterate Cameroon's steadfast commitment to the sustainability of fisheries resources, oceans and the multilateral trading system. Such ratification would be applauded by WTO in particular since Cameroon will, latest February 2026, be hosting 195 delegations and about 6 000 participants who will be attending the 14" session of the Ministerial Conference, which is the supreme body of this organization. ‘Such is the purport of this bill tabled before Pailiament for consideration./- Scanné avec CamScannerSECTION 4: The President of the Republic is hereby authorized to ratify the Protocol Amending the Marrakesh Agreement Establishing the World Trade Organization, by the insertion of the Agreement of 17 June 2022 on Fisheries Subsidies in Annex 1A. SECTION 2: This law shall be registered, published according to the procedure of urgency and inserted in the Official Gazette in English and French./- Scanné avec CamScanner