WTO fishing deal possible by ministerial meeting - chair

FILE PHOTO: A logo is pictured on the World Trade Organisation (WTO) building before a ministerial meeting to discuss a draft agreement on curbing subsidies for the fisheries industry in Geneva, Switzerland, July 15, 2021. REUTERS/Denis Balibouse/File Photo

GENEVA (Reuters) - The head of negotiations at the World Trade Organization aimed at cutting billions of dollars in subsidies for the fishing industry said on Monday that he thought an outcome was possible in time for a major ministerial conference later this month.

Environmentalists say that a deal at the WTO to cap subsidies that promote unsustainable fishing would be the single biggest action that could be taken to help falling global fish stocks recover. While negotiators have never been so close to a deal in 20 years of talks, some key points remain undecided such as details on how the deal applies to developing countries.