WORLD TRADE ORGANIZATION  
ORGANISATION MONDIALE DU COMMERCE  
ORGANIZACIÓN MUNDIAL DEL COMERCIO  WT/TF/COH/20 
12 October 2004 
 (04-4271) 
 Original:   English/ 
 French/  Spanish 
 
 
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 , 
1-2 October 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  
1-2 octobre 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 ,  
1-2 de octubre de 2004  
 
 
                                                      
1In English only./En anglais seulement./En inglés solamente. 
 WT/TF/COH/20 
Page 2  
 
  
I. INTERGOVERNMENTAL GROUP OF TW ENTY-FOUR ON INTERNATIONAL 
MONETARY AFFAIRS AND DEVELOPMENT – COMMUNIQUÉ, 1 OCTOBER 2004 
Extract:  Trade 
  Ministers welcome the resumption of the Doha  Round of multilateral trade negotiations. They 
reiterate that the Doha Round should result prom ptly in improved market access for developing 
country exports, the dismantling of tariff escalati on schemes, and the elimination of tariff peaks and 
non-tariff barriers. The Doha Round should also result in an accelerated reduction of industrial and 
agricultural tariffs, the phasing out of subsidies in agriculture (particularly the removal of all export 
subsidies), the expansion of agricultural tari ff-rate quotas, as well as ensuring its transparent 
administration. Tariffs in such areas as textiles, clothing, and footwear should be removed. Ministers 
caution that the dismantling of the quotas under the Multifibre Agreement on January 1, 2005 should 
not lead to the imposition of other protectionist me asures. They urge the Bank and Fund to intensify 
their efforts to develop clear strategies to assist c ountries in adjusting to greater trade liberalization. 
    
II. STATEMENT OF G-7 FINANCE MINISTERS AND CENTRAL BANK 
GOVERNORS, 1 OCTOBER 2004 
Extract: 
  We reaffirmed our commitment to sound pub lic finances and to strategies for sustained 
medium term fiscal consolidation. Today we rel eased a new report on our Agenda for Growth in 
which we agreed to make pro-growth structural refo rms a regular part of our work to create more jobs 
and increase productivity. We welcome recent pr ogress on the Doha Development Round.  
 
  
III. INTERNATIONAL MONETA RY AND FINANCIAL COMMITTEE OF THE BOARD 
OF GOVERNORS OF THE INTERNATIONAL MONETARY FUND – COMMUNIQUÉ, 2 OCTOBER 2004 
Extract:  The Global Economy and Financial Markets – Outlook, Risks, and Policy Responses 
  An open and inclusive multilateral trading syst em is central to global growth and economic 
development, especially for developing countries. The Doha Round offers a unique opportunity for 
substantial progress toward this objective, and the Committee is encouraged by the recent decisions 
on negotiating frameworks. We endorse the "July Pack age" and urge all parties to work toward 
concrete advances in liberalizi ng trade, strengthening multilateral trade rules, and reducing trade-
distorting subsidies, notably in agriculture. To ach ieve ambitious trade liberalization will require the 
full commitment of all parties, in particular st rong leadership from the major trading nations and 
readiness of all countries to embrace the opportunities provided by more open trade. The Committee supports the IMF's continued role in advocating tr ade liberalization and assisting members, including 
through the Trade Integration Mechanism. 
  WT/TF/COH/20 
 Page 3 
 
 
 IV. DEVELOPMENT COMMITTEE – CO MMUNIQUÉ, 2 OCTOBER 2004 
Extract: 
 
 Global economic growth is strong, supported by exceptionally robust growth in developing 
countries, as the world benefits from the significant reforms undertaken by many countries over recent 
years. Private sector driven growth resulting in new jobs and higher tax reve nues, which can be used 
to finance poverty-reducing public  expenditures, is critical to the success of country-led efforts to 
reduce global poverty. Success in the Doha Deve lopment Agenda can only complement these 
developments and we stress the importance of tran slating the recently agr eed WTO frameworks into 
tangible results. We urge all countries, developing  and developed, to participate fully in the 
negotiations and urge the IMF and Wo rld Bank to continue to support work to this end, and to help 
developing countries assess the impact and to pr ovide additional support to address potential 
adjustment costs.  
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