EU says draft WTO fisheries deal "can be the basis for an agreement"

The European Union (EU) said on Thursday that a draft deal on curbing fisheries subsidies formed the basis for clinching a global agreement at the World Trade Organization (WTO).

In remarks seen by Reuters, Valdis Dombrovskis, European Commission vice president, told a virtual WTO ministerial meeting in Geneva that the draft deal "can be the basis for an agreement" as it "contains many elements for landing zones".

Negotiators at the WTO have been trying for 20 years to agree how to cap subsidies that contribute to the overfishing of the world's seas and oceans.