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1.1. (...) The negative impacts of climate change have been increasingly felt around the world with severe droughts, flooding and temperature anomalies compounding an already difficult situation. (...)

1.2. In February 2021, the EU set out its new trade strategy in the Trade Policy Communication ("2021 Trade Policy Communication"). Responding to the challenges the EU faces and the political priorities of supporting the green and digital transitions, the new strategy was based on (...)

1.3. The new strategy [In February 2021, the EU set out its new trade strategy in "2021 Trade Policy Communication".] was underpinned by openness, sustainability and assertiveness.
(...)
b. Sustainability – because trade policy needs to do what it can to support sustainable development, including combatting climate change, minimising its negative effects, and supporting adaptation, while also promoting sustainable environmental practices and labour rights.
c. Assertiveness – because in a world of geopolitical, economic, and environmental transition, the EU needs to be able to effectively defend its interests and enforce its rights.

2.7. (...) In 2020, the EU unveiled its Next Generation EU (NGEU) recovery plan with the aim to support the recovery of EU countries from pandemic and foster the green and digital transitions. Financial support under the NGEU reaches EUR 750 billion and it is channelled through seven programmes in the form of grants (EUR 390 billion) and loans (EUR 360 billion). (...)

2.8. Following Russia's war of aggression against Ukraine, the EU has launched the REPowerEU Plan with the objective to end the EU's dependence on Russian fossil fuels. The plan aims at fostering energy savings, diversification of energy supplies and accelerated roll-out of renewable energy. (...)

3.1. Against the backdrop of major transformations such as the green and digital transitions, as well as serious geopolitical tensions, global rules-based trade and trade cooperation with the WTO at its core is more important than ever. (...)

3.3. MC12 delivered significant outcomes. The WTO has been able (i) to show that it remains relevant and responsive to current challenges with outcomes in health, food security, and sustainability; and (ii) to equip itself for the future with the commitment to WTO reform. The fisheries subsidies agreement achieved two strategic objectives: integrating sustainability into WTO rules and reinforcing disciplines on subsidies. (...)

3.7. The EU played an active role at the MC12 in June 2022 to reach a landmark Agreement on Fisheries Subsidies delivering on UN Sustainable Development Goal Target 14.6 (SDG14.6). The agreement prohibits subsidies to vessels or operators engaged in illegal, unreported and unregulated (IUU) fishing, prohibits subsidies to fishing on overfished stock without appropriate measures being in place to rebuild the stock, prohibits subsidies to fishing on unregulated high seas, and includes far-reaching transparency provisions.

3.8. (...)The EU is committed to constructively engage in the continued negotiations to deliver a comprehensive agreement addressing subsidies that contribute to overcapacity and overfishing.

3.9. (...) While state interventions can be an appropriate tool to contribute to important public objectives, such as the climate transition, the state interventions should be designed so as to avoid or minimise negative spill over effects on trading partners.