WORLD TRADE ORGANIZATION
ORGANISATION MONDIALE DU COMMERCE
ORGANIZACIÓN MUNDIAL DEL COMERCIOWT/TF/COH/18
29 September 2003
(03-5112)
Original:  English/
French/
Spanish
COHERENCE IN GLOBAL ECONOMIC POLICY-MAKING:  WTO
COOPERATION WITH THE IMF AND THE WORLD BANK
Extracts1 relating to trade from the communiqués of the Intergovernmental Group of
Twenty-Four on International Monetary Affairs and Development, the G-7 Finance Ministers and
Central Bank Governors, the International Monetary and Financial Committee
of the Board of Governors of the International Monetary Fund,
and the Development Committee,
20-22 September 2003
COHÉRENCE DANS L'ÉLABORATION DES POLITIQUES ÉCONOMIQUES
AU NIVEAU MONDIAL:  COOPÉRATION DE L'OMC AVEC
LE FMI ET LA BANQUE MONDIALE
Extraits1 relatifs au commerce des communiqués du Groupe intergouvernemental des
Vingt-Quatre pour les questions monétaires internationales et le développement,
des ministres des finances et des gouverneurs de banque centrale du Groupe
des Sept, du Comité monétaire et financier international du Conseil
des gouverneurs du Fonds monétaire international
et du Comité du développement
20-22 septembre 2003
COHERENCIA EN LA FORMULACIÓN DE LAS POLÍTICAS ECONÓMICAS
A ESCALA MUNDIAL:  COOPERACIÓN DE LA OMC CON EL FMI
Y EL BANCO MUNDIAL
Extractos1 relativos al comercio tomados de los comunicados del Grupo Intergubernamental
de los Veinticuatro para Asuntos Monetarios Internacionales y Desarrollo, los Ministros
de Hacienda y los Gobernadores de los Bancos Centrales del
Grupo de los Siete, el Comité Monetario y Financiero
Internacional de la Junta de Gobernadores
del Fondo Monetario Internacional
y el Comité para el Desarrollo,
20-22 de septiembre de 2003
                                                     
1In English only./En anglais seulement./En inglés solamente.WT/TF/COH/18
Page 2
I. INTERGOVERNMENTAL GROUP OF TWENTY-FOUR ON INTERNATIONAL
MONETARY AFFAIRS AND DEVELOPMENT, COMMUNIQUÉ,
20 SEPTEMBER 2003
Extract:  Trade
Ministers express grave concern about the failure of the WTO Cancun ministerial meeting,
which represents a major setback to the objectives of global growth and poverty reduction. This is the
result of the unwillingness of major advanced economies to remove barriers to agricultural imports
and subsidies to their farm producers. Ministers stress the need for the adoption of a rules-based
process for decision-making in the WTO that would involve all countries. They believe that
multilateral trade negotiations should be concluded within the agreed timeframe. Advancedeconomies should respect their long-standing commitments to open their markets to developing
countries, phase out subsidies in agriculture, and remove quotas and high tariffs in such areas as
textiles and clothing. Ministers urge that multilateral trade negotiations resume shortly, and be
conducted in a manner consistent with the principle of comparative advantage and the development
needs of countries.
II. STATEMENT OF G-7 FINANCE MINISTERS AND CENTRAL BANK
GOVERNORS, 20 SEPTEMBER 2003
Extract:
We reiterate the importance of a rules based and multilateral approach to trade. We are
disappointed at the breakdown of trade negotiations  in Cancun. We urge a speedy resumption of the
Doha Round which is vital for global growth and the alleviation of world poverty. We believe that the
immediate blockages can be removed and, with an effort on all sides, agreement reached on theremaining issues. We welcome the International Financial Institutions’ proposed assistance for
countries to deal with the transition to a more open trading system.
III. INTERNATIONAL MONETARY AND FINANCIAL COMMITTEE OF THE BOARD
OF GOVERNORS OF THE INTERNATIONAL MONETARY FUND –
COMMUNIQUÉ, 21 SEPTEMBER 2003
Extract:  The Global Economy and Financial Markets
The international community must urgently  make progress on trade and development.
Ministers reaffirm their full political commitment to a multilateral rules-based approach to trade
liberalization, and to making substantial and concrete progress. Ministers were disappointed at thebreakdown of trade negotiations in Cancún. Minister s urge a speedy resumption of the Doha Round,
which is vital for strong global growth and our development objectives. This should focus on the
issues of importance to all countries of open markets and fair access and the reduction of trade-
distorting subsidies in all areas, notably in agriculture. The Committee reiterates the crucial
importance of removing the obstacles and moving forward without delay, and calls on all countries toplay their part. It stresses the importance of the IMF's initiative to provide assistance to countries to
help them address the transitional impact of trade reforms, which will contribute to the Doha Round.WT/TF/COH/18
Page 3
IV. DEVELOPMENT COMMITTEE – COMMUNIQUÉ, 22 SEPTEMBER 2003
Extract:
We continue to believe that a successful conclusion to the Doha Development Agenda is vital
to growth, poverty reduction and progress in attaining the Millennium Development Goals.  Wetherefore regret the temporary setback to multilateral trade negotiations at WTO's Fifth Ministerial
and urge all participants to capitalize on progress to date and put the process back on track as soon as
possible.  We welcome the Bank and Fund's recent pledge to support countries to benefit fully from a
more liberalized trading system.  We also urge continued efforts to tailor Bank lending activities to
support country-owned trade initiatives, translating analysis and diagnostics into meaningful
operations.
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