The Food and Agriculture Organization (FAO) on Thursday expressed optimism that a growing number of countries are ratifying an international agreement to combat illegal fishing, UN spokesman Stephane Dujarric told reporters here.

According to FAO, illegal, unreported and unregulated fishing is estimated to strip between 10 billion U.S. dollars and 23 billion U.S. dollars from the global economy, Dujarric said at a daily news briefing here. "It may account for up to 26 million tonnes of seafood a year, more than 15 percent of the total global output."

"Twelve countries have so far ratified the agreement, which was brokered by FAO in 2009, and it will come into force once we have 25 ratifications," Dujarric said.

Signatures represent a signal of support for the agreement and are an important first step in the process, followed by ratification at the national level and then official notification of ratification of the FAO. Enditem