WORLD TRADE ORGANIZATION  
ORGANISATION MONDIALE DU COMMERCE  
ORGANIZACIÓN MUNDIAL DEL COMERCIO  WT/TF/COH/21 
21 April 2005 
 (05-1642) 
 Original:   English/ 
 anglais/ 
 inglés 
 
 
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 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 , 
15-17 April 2005
 
 
 
 
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  
15-17 avril 2005  
 
 
 
 
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 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 ,  
15-17 de abril de 2005  
 
 
                                                      
1In English only./En anglais seulement./En inglés solamente. 
 WT/TF/COH/21 
Page 2  
 
I. INTERGOVERNMENTAL GROUP OF TW ENTY-FOUR ON INTERNATIONAL 
MONETARY AFFAIRS AND DEVELOPM ENT, COMMUNIQUÉ, 15 APRIL 2005 
Extract:  Trade 
 
 Ministers reaffirm the importance of successfully concluding the Doha Round of multilateral trade negotiations, which will help to promote globa l economic growth and thus contribute to poverty 
reduction and the achievement of the MDGs. They  stress that translating the mid-2004 framework 
agreements into a viable policy package, wh ich will be taken up at the December 2005 WTO 
Ministerial Conference, should be a key priority for the coming months. Ministers call on the BWIs 
and the WTO to improve coordination in trade po licy formulation. They urge the World Bank and 
other multilateral development banks  to intensify their financial and technical support for trade 
facilitation in developing countries. 
 
 Ministers emphasize that IM F surveillance should focus on the implementation of trade 
policies of both industrial and developing countri es, and that IMF and World Bank research should 
evaluate the impact of trade restrictions and sanc tions, and domestic subsidies to agriculture on global 
development and welfare. Improved access to indu strial country markets—particularly through a 
reduction of tariff and non-tariff barriers and the phasing out of agricultural and other subsidies, 
which hamper growth in developing countries—would help to promote trade liberalization among developing countries. Ministers also commend rece nt advances in regional trade agreements, which 
could facilitate multilateral trade liberalization.  
 
   
II. STATEMENT BY G-7 FINANCE MINISTERS AND CENTRAL BANK GOVERNORS, 16 APRIL 2005 
Extract: 
 
 An ambitious result of the Doha Development R ound is key for global growth. Countries with 
open and well-supervised financial services sectors, especially emerging markets and developing countries, have achieved significantly higher grow th rates. A strong WTO agreement on financial 
services at the Hong Kong ministerial is in the best interests of the global community. 
  
III. INTERNATIONAL MONETA RY AND FINANCIAL COMMITTEE OF THE BOARD 
OF GOVERNORS OF THE INTERNATIONAL MONETARY FUND – COMMUNIQUÉ, 16 APRIL 2005 
Extract:  The Global Economy and Financial Markets – Outlook, Risks and Policy Responses 
 
 The Committee emphasizes that successful and ambitious multilateral trade liberalization is 
central to sustained global growth and economic de velopment. The immediate priority is for WTO 
members to translate the mid-2004 framework agreements  into a viable policy package in time for the 
December 2005 WTO Ministerial Conference. The Committee encourages Doha participants to aim 
for ambitious and comprehensive results, notably in agriculture; substantial reductions in barriers to 
other trade, including liberalization in financial and other services; and strengthened multilateral trade 
rules. The Committee supports the IMF's continued role in advocating trade liberalization and assisting members to benefit from it. It encourages the IMF to work with other partners in the Integrated Framework to explore further ways of easing adjustment to trade liberalization, including 
through the Trade Integration Mechanism, and building capacity in low-income countries. The 
Committee looks forward to consideration of proposals at its next meeting. 
 
  WT/TF/COH/21 
 Page 3 
 
 
IV. DEVELOPMENT COMMITTEE – COMMUNIQUÉ, 17 APRIL 2005 
Extract: 
 
 To complement these actions, developed count ries must meet their commitments to help 
accelerate progress. We underlined the vital importa nce of an ambitious outcome for the Doha 
Development Agenda and the successful completion of the negotiations in 2006.  Improving trade 
opportunities and market access for agriculture, industrial products and services will be critical. We stressed the need for “aid for trade” and we call on the Bank and Fund to work with others to develop 
proposals to help developing countries adjust to and take advantage of the round, for consideration by 
our next meeting. We also recognized the benefits  to developing countries from reducing developing 
country trade barriers and of strengthening South-South trade. 
 
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