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Nicaragua Moves Closer to Sustainable Oceans with Fisheries Subsidies Agreement
By Guy José Bendaña-Guerrero & Asociados
Nicaragua has taken a significant step in aligning with global efforts to protect marine ecosystems by formally accepting the World Trade Organization’s (WTO) Agreement on Fisheries Subsidies. The move, made official on June 2 with the submission of Nicaragua’s instrument of acceptance, positions the country as the 101st WTO member to ratify the agreement — just ten acceptances short of the number required for it to enter into force.
This development reflects Nicaragua’s ongoing effort to keep pace with international environmental and trade standards. While the country has faced numerous economic and political challenges, it has remained committed to participating in multilateral frameworks aimed at fostering sustainability and economic equity. With coastlines on both the Pacific Ocean and the Caribbean Sea, Nicaragua’s reliance on marine resources for food security and local livelihoods makes it particularly invested in the principles underpinning the WTO agreement.
Adopted by consensus at the WTO’s 12th Ministerial Conference (MC12) in Geneva in June 2022, the Agreement on Fisheries Subsidies introduces binding global rules designed to limit harmful fisheries subsidies. Specifically, it bans subsidies that support illegal, unreported, and unregulated (IUU) fishing, as well as those that contribute to overfishing or fishing on unregulated high seas.
By formally accepting the agreement, Nicaragua contributes to a broader global effort to curb destructive practices that threaten the long-term viability of fish stocks and marine biodiversity. This step also strengthens Nicaragua’s integration into the rules-based multilateral trading system.
Crucially, the agreement acknowledges the specific challenges faced by developing and least-developed countries. A dedicated WTO Fish Fund has been established to support these nations in implementing the new obligations through technical assistance and capacity-building programs. With Nicaragua’s acceptance, the fund is now poised to open calls for proposals, potentially unlocking much-needed resources for countries preparing to comply with the agreement’s requirements.
This is not the first time Nicaragua has aligned itself with international environmental objectives. The country has historically supported marine conservation initiatives and has expressed a consistent interest in promoting what is now widely known as the “blue economy” — a sustainable use of ocean resources for economic growth, improved livelihoods, and ecosystem health.
With only ten more WTO members needed to ratify the agreement, the entry into force appears imminent. Once that threshold is reached, member states will face the challenge of translating global commitments into national policies.
Guy José Bendaña-Guerrero & Asociados
GUY JOSE BENDAÑA GUERRERO & ASOCIADOS has a long and prosperous tradition in the field of intellectual property (IP) in Nicaragua, with roots that go back to more than 100 years, resulting on long-term relationships with renowned clients and attorneys worldwide.
The firm has its origins in the law firm Henry Caldera & Henry Caldera-Pallais, founded in 1907 by Mr. Henry Caldera. That same year of 1907, through the efforts of Mr. Caldera, Nicaragua had its first Trademark Law. In the late 1930’s, Mr. Caldera’s oldest son, Dr. Henry Caldera-Pallais, after studying law in Nicaragua, attended the University of Michigan, where he graduated as a Registered U.S. Patent Attorney. Dr. Caldera-Pallais in 1964 was a founding member of the Interamerican Association of Intellectual Property (ASIPI), the first regional intellectual property organization in the Americas. The firm continued to grow during the administration of Dr. Franklin Caldera, son of Dr. Caldera-Pallais, who obtained his doctoral degree in law from the Universidad Centroamericana in 1973.
Since 1985 the current partners, Dr. Guy José Bendaña Guerrero and Mrs. Blanca Aragón de Bendaña, took over the management of the firm. Dr. Bendaña Guerrero, Director of the firm, has distinguished himself as one of the most respected authorities in Central America in the field of intellectual property and law in general, being the author of several books such as “Course of Industrial Property Law”, “Study of the new Laws of Industrial Property” and “New Study of Contracts “, among others. Mrs. Aragón de Bendaña has served as the firm’s general manager and, thanks to her excellent management, the firm has been in constant growth, with a highly qualified staff committed to excellence. Since 1996, partner Julián José Bendaña Aragón joined the firm, and has been standing out as one of the most recognized attorneys in the field of intellectual property.
We have adapted to the constant change of the business world, supporting our clients in finding the most appropriate legal solutions for each moment. The firm distinguishes itself by understanding the needs of its clients, offering personalized service and adding value to its activities.
Nowadays we continue to be the leading firm in Nicaragua in the area of intellectual property, and at the same time, we have been consolidating other areas of service within the civil, commercial and labor fields, as well as litigation and consulting in general. The firm is well positioned to guarantee a pragmatic service that meets the requirements of the most demanding clients.