WORLD TRADE ORGANIZATION  
ORGANISATION MONDIALE DU COMMERCE  
ORGANIZACIÓN MUNDIAL DEL COMERCIO  WT/TF/COH/19 
28 April 2004 
 (04-1903) 
 Original:   English/ 
 anglais/  inglés 
 
 
COHERENCE IN GLOBAL ECONOMIC POLICY-MAKING:  WTO  
COOPERATION WITH THE IMF AND THE WORLD BANK 
 
Extracts
1 relating to trade from the communiqués of the Intergovernmental Group of  
Twenty-Four on International Monetary Affairs a nd Development, the G-7 Finance Ministers and  
Central Bank Governors, the Internati onal Monetary and Financial Committee  
of the Board of Governors of the International Monetary Fund , 
and the Development Committee , 
23-25 April 2004  
 
 
 
 
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  
23-25 avril 2004  
  
  
COHERENCIA EN LA FORMULACIÓN DE LAS POLÍTICAS ECONÓMICAS  
A ESCALA MUNDIAL:  COOPERACIÓN DE LA OMC CON EL FMI  
Y EL BANCO MUNDIAL 
 
Extractos
1 relativos al comercio tomados de lo s 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 ,  
23-25 de abril de 2004  
 
 
                                                      
1In English only./En anglais seulement./En inglés solamente. 
 WT/TF/COH/19 
Page 2  
 
  
I. INTERGOVERNMENTAL GROUP OF TW ENTY-FOUR ON INTERNATIONAL 
MONETARY AFFAIRS AND DEVELOPM ENT, COMMUNIQUÉ, 23 APRIL 2004 
Extract:  Trade 
 
 Ministers underscore the importance of trad e to support the balanced growth of the 
international economy, the further reduction of exte rnal vulnerabilities of developing countries, and 
the achievement of the MDGs. They  call for the early and vigorous resumption of the Doha Round of 
multilateral trade negotiations, which should result in  improved market access for developing country 
exports, the dismantling of tariff escalation schemes, the phasing out of subsidies in agriculture, and 
the removal of quotas and tariffs in such areas as textiles, clothing, and agricultural products. 
Ministers consider that the advancement of the Doha  Round should not be delayed by lack of progress 
on the Singapore issues. They welcome the IMF's es tablishment of the Trade Integration Mechanism 
to help members facing adjustment costs from trade liberalization. Ministers emphasize that, to be 
effective, this policy should permit higher access to  Fund resources, be implemented with flexibility, 
and be supported by technical assistance. They al so welcome the advocacy role being played by the 
Bank, as well as its capacity-building analytical work aimed at assisting developing countries in 
advancing their trade agenda.     
II. STATEMENT OF G-7 FINANCE MINISTERS AND CENTRAL BANK 
GOVERNORS, 24 APRIL 2004 
Extract: 
 
 To deliver faster and more widespread globa l growth, and to fight global poverty, rapid 
progress on and early conclusion of the Doha Round  is imperative and will require action by all 
parties to resolve key outstanding issues. 
   
III. INTERNATIONAL MONETA RY AND FINANCIAL COMMITTEE OF THE BOARD 
OF GOVERNORS OF THE INTERNATIONAL MONETARY FUND – COMMUNIQUÉ, 24 APRIL 2004 
Extract:  The Global Economy and Financial Markets 
 
 The Committee received the report of Dr. Sup achai Panitchpakdi, Director-General of the 
World Trade Organization. It reiterates the critical  importance of open markets for supporting broad-
based global economic growth and prosperity. The Committee calls for constructive and determined 
efforts by all countries to achieve early progress with the Doha Round, focusing 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. A successful completion of the round is a shared 
responsibility, important for all countries, partic ularly developing countries. The Committee supports 
the IMF's role in advocating trade liberalization and helping members to take all the necessary actions 
to gain full advantage of the opportunities provi ded by more open trade. It welcomes the IMF's 
decision to establish a Trade Integration Mechan ism, designed as a temporary policy to address 
concerns associated with the current round of multilateral trade negotiations. 
  WT/TF/COH/19 
 Page 3 
 
 
 IV. DEVELOPMENT COMMITTEE – COMMUNIQUÉ, 25 APRIL 2004 
Extract: 
 
 Developed countries must meet their commitme nts to help accelerate progress. Sustaining 
stable, balanced and strong growth in the global economy is a prerequisite. Ensuring a successful, pro-
development, and timely outcome to the Doha Deve lopment Agenda is critical to global growth and 
the economic prospects of developing countries. We  stressed our commitment to a constructive and 
determined effort to move the multilateral trade agen da forward. We again stressed that it is essential 
for developed countries to do more to liberalize thei r markets and eliminate trade distorting subsidies, 
including in the areas of agriculture, textiles and clothing, which are of particular importance for 
developing countries. At the same time, we em phasized the importance of trade facilitation and 
liberalization efforts in developing countries. We welcomed the Bank's continuing efforts to promote 
trade facilitation and the Integrated Framework, as well as the IMF's recently adopted Trade Integration Mechanism, which will provide additiona l support and assurances to developing countries 
as they integrate further into the global trading syst em. We also urged continued efforts to tailor Bank 
lending activities to support capacity building and c ountry-owned trade initiatives. We noted the 
growing importance of migration, and with it, wo rkers' remittances and called for further work to 
improve understanding of their dete rminants and to create a supportiv e environment to enhance their 
development impact.   
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