GENEVA, Switzerland: The man leading negotiations on fisheries at the World Trade Organization (WTO) called on Monday on countries to compromise in order to finalize a deal at next week's ministerial conference in Abu Dhabi.

After striking an agreement in 2022, which banned subsidies contributing to illegal, undeclared and unregulated fishing, the WTO hopes to conclude a second deal, this time focusing on subsidies which fuel overcapacity and overfishing.

Iceland's ambassador Einar Gunnarsson, who is leading the discussions, presented his new draft text to journalists on Monday, following a month of intensive negotiations at the WTO's Geneva headquarters.

He said several points remained under discussion, notably on provisions relating to fuel subsidies and the use of forced labor, as well as on defining the preferential treatment mechanism reserved for developing countries and for the very poorest nations.

"I remain optimistic," but "members will need to start thinking about the internal trade-offs that they can make," he told a press conference.

"I know that doing this in a multilateral negotiation based on consensus is never easy. But I continue to see it as quite possible."

The WTO can only take decisions if there is consensus among all of its 164 members.

Gunnarsson said countries were "very aware that next week, the eyes of the world will be on us."

According to many diplomats, the success of the 13th WTO ministerial conference, being held from February 26-29, will depend heavily on concluding a deal on fisheries.

The draft text provides for a ban on subsidies that promote overfishing and overcapacity, unless they fall within the framework of a fishery resource management mechanism based on sustainability criteria.

The text would essentially divide member countries into three groups, with the largest subsidy providers subject to greater scrutiny.

However, some developing countries like India are asking for transition periods that others consider far too long.

Unlike other WTO agreements which aim to lift trade barriers or counter trade distortions, this text just like the 2022 agreement forms part of the United Nations' sustainable development goals.

"The overriding consideration is not to drive down or up prices of fish, but rather to retain the healthy and the productive oceans," said Gunnarsson.

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