WORLD TRADE ORGANIZATION  
ORGANISATION MONDIALE DU COMMERCE  
ORGANIZACIÓN MUNDIAL DEL COMERCIO  WT/TF/COH/23 
27 April 2006 
 (06-1978) 
 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 , 
21-23 April 2006  
 
 
 
 
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  
21-23 avril 2006  
  
  
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 ,  
21-23 de abril de 2006  
 
 
                                                      
1In English only./En anglais seulement./En inglés solamente. 
 WT/TF/COH/23 
Page 2  
 
  I. INTERGOVERNMENTAL GROUP OF TW ENTY-FOUR ON INTERNATIONAL 
MONETARY AFFAIRS AND DEVELOPM ENT, COMMUNIQUÉ, 21 APRIL 2006 
Extract:  Trade 
 
 
TRADE 
 
Ministers express disappointment over the modest outcome of the Hong Kong ministerial 
meeting in December 2005, and their concern that a successful conclusion to the Doha Round is now 
at risk. Many critical issues have yet to be agr eed upon, which underscores the need to increase the 
political commitment on the part of both develope d and developing countries to a successful and 
ambitious outcome. Ministers point to the fact that  the Doha Round is a developmental round, which 
must deliver on its potential to support growth an d reduce poverty. It will be important for the final 
package to take into account countries’ level of  development and support the implementation of 
home-grown development strategies, so as to allow countries to reap the full potential benefits of 
liberalization. Ministers note that World Bank estimat es suggest that as much as two-thirds of the net 
gains from the Round for developing countries ar e likely to be derived from a meaningful 
liberalization of agricultural trade, an area where industrial countries must take action.  
 
Ministers urge the IMF and the World Bank to  support the negotiations, including through 
continued coordination with the WTO and othe r multilateral institutions. They welcome recent 
proposals related to the “aid for trade” agenda, and caution that this should not be viewed as a 
substitute for an ambitious Doha Round. Ministers encourage the IMF and World Bank to continue to 
evaluate and publicize the harmful effects of trade restrictions, subsidies, and rising protectionism on 
global economic performance and the de velopment prospects of low- and middle-income countries. In 
this context, they call for future trade-related pr ograms undertaken by the World Bank to focus greater 
attention to the political economy dynamics of trade reform, address poverty and distributional 
outcomes, and cushion against shocks associated with trade policies, as recommended by the World 
Bank’s Internal Evaluation Group. 
 
  
II. STATEMENT BY G-7 FINANCE MINISTERS AND CENTRAL BANK 
GOVERNORS, 21 APRIL 2006 
Extract: 
 
We, Ministers and Governors, met today and resolutely reaffirmed that openness and 
globalization are beneficial in promoting economic prosperity and reducing poverty. These benefits 
are most effectively realized with sound economic  management and supportive policies for those 
whose welfare is adversely affected. We committed to: strengthen economic policies in our countries; 
work together to remove distortions to the gl obal adjustment process; resist protectionism and 
promote liberalization of trade and investment including an ambitious outcome from the Doha Development Round; and modernize the in ternational financial institutions.  
 
  
III. INTERNATIONAL MONETA RY AND FINANCIAL COMMITTEE OF THE BOARD 
OF GOVERNORS OF THE INTERNATIONAL MONETARY FUND – COMMUNIQUÉ, 22 APRIL 2006 
Extract:  The Global Economy and Financial Markets – Outlook, Risks, and Policy Responses 
 
 The Committee emphasizes the importance of an ambitious and successful outcome to the Doha Round by the end of 2006 for global growth and poverty reduction. Th e Committee calls on all  WT/TF/COH/23 
 Page 3 
 
 
  members to resist protectionism in both trade and foreign direct investment. With time running 
increasingly short, all members must urgently cont ribute to reaching agreement on the key elements 
of a comprehensive package supporting a strengt hened multilateral trading system. The Committee 
also calls for continued efforts to help countries take full advantage of the opportunities of global 
integration arising from ambitious trade liberaliza tion. For poor countries in particular, the Committee 
urges Aid for Trade assistance firmly grounded in  national development strategies and full use of 
existing and enhanced mechanisms for trade-related technical assistance. 
 
 IV. DEVELOPMENT COMMITTEE – COMMUNIQUÉ, 23 APRIL 2006 
Extract: 
 
 Implementation of the Doha Deve lopment Agenda is a critical complement to other efforts to 
increase growth and reduce global poverty.  Afte r modest progress at the Hong Kong ministerial 
meeting in December 2005, we urged all WTO member s to step up their effo rts to reach a successful 
conclusion to the Doha Round by the end of this y ear.  We welcomed a significant increase in donor 
commitments for aid for trade, and creation of a task force in the WTO to make recommendations on how to operationalize aid for trade, recognizing that  this is a complement not a substitute for a 
successful Doha Round.  We asked the Bank and the Fund to further examine cross-country and 
regional aid for trade needs by our next meeting and deepen their work to inte grate trade-related needs 
into their support for country programs.  We also asked the Bank and the Fund to continue their global 
advocacy on trade and development. 
 
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