in the fao blamed subsidies for most of the billion shortfall between the fishing industry s estimated revenues and costs in the world bank published the first major estimate of subsidies at global level arriving at a figure of to billion other international organisations such as apec asiapacific economic cooperation also started to discuss the issue the inclusion of fisheries subsidies in the wto s doha round of trade talks in thrust the issue to the forefront of the international fisheries policy agenda at its fourth ministerial conference in the wto undertook to clarify and improve wto disciplines on fisheries subsidies taking into account the importance of this sector to developing countries these commitments were reinforced by the wto hong kong ministerial declaration in wto