The announcement fell on the eve of an annual conference in Washington on ocean governance and environmental preservation.
In a joint statement, the representatives of the 12 nations, which included Australia, Norway, Singapore and landlocked Switzerland, said they would begin talks to develop a WTO agreement on transparency and reporting of fisheries subsidies.
Thirty-one percent of the world's fisheries are currently being harvested at biologically unsustainable levels and another 58 percent are fished at maximum levels which prevent growth, according to Food and Agriculture Organization figures cited by the statement.
The United States imports more than 90 percent of its seafood, according to the National Oceanic and Atmospheric Administration.
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The announcement did not say which countries might be targetted for alleged subsidies.
According to Greenpeace, China has nearly 2,500 fishing vessels at sea, ten times as many as the United States.
Greenpeace says unreported fuel subsidies to Chinese deepwater fishing fleets promote overcapacity.