WORLD TRADE ORGANIZATION  
ORGANISATION MONDIALE DU COMMERCE  
ORGANIZACIÓN MUNDIAL DEL COMERCIO  WT/TF/COH/22 
29 September 2005 
 (05-4311) 
 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 September 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  
23-25 septembre 2005  
  
  
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 septiembre de 2005  
 
 
                                                      
1In English only./En anglais seulement./En inglés solamente. 
 WT/TF/COH/22 
Page 2  
 
  
I. INTERGOVERNMENTAL GROUP OF TW ENTY-FOUR ON INTERNATIONAL 
MONETARY AFFAIRS AND DEVELOPMENT, COMMUNIQUÉ, 23 SEPTEMBER 2005 
Extract:  Trade 
  Ministers stress the need to make progress in  the multilateral trade negotiations, and for a 
strong political commitment by developed countr ies to this end ahead of the December WTO 
Ministerial meeting in Hong Kong, in order to ensu re that remaining stumbling blocks-particularly 
regarding negotiations on market access and subs idies on agricultural products-can be overcome 
without having to temper ambitions for the outco me of the Round. They call on the IMF and the 
World Bank to support the negotiations, including through on-going coordination with the WTO and 
other multilateral institutions, as well as initiatives recen tly proposed in the context of the emerging 
"aid for trade" agenda.   
 Ministers emphasize that IM F surveillance should focus on the implementation of trade 
policies of both industrial and developing countri es. They urge the IMF and the World Bank to 
continue to evaluate and widely publicize the im pact of trade restrictions and sanctions, and of 
subsidies to agricultural products, on debt sustai nability and on global de velopment in general. 
Improved access to industrial country markets – pa rticularly through a reduction of tariff and non-
tariff barriers and the phasing out of agricultural an d other subsidies – will benefit all countries, and 
will help to promote trade liberali zation among developing countries.  
  
II. STATEMENT BY G-7 FINANCE MINISTERS AND CENTRAL BANK 
GOVERNORS, 23 SEPTEMBER 2005 
Extract: 
 
 An ambitious outcome from the Doha Round by  the end of 2006 is essential to enhancing 
global growth and poverty reduction.  We call for a multilateral rules- based global market. We call for 
a strong WTO result by all members to substantially  increase market access in  agriculture, industrial 
products, and services, especially for developing countries; significantly reduce trade-distorting 
domestic support; eliminate all forms of export subsidies in agriculture; and make significant progress 
on services, including financial services, as liberalization in financial sectors is linked to increased growth.     III. INTERNATIONAL MONETA RY AND FINANCIAL COMMITTEE OF THE BOARD 
OF GOVERNORS OF THE INTERNATIONAL MONETARY FUND – COMMUNIQUÉ, 24 SEPTEMBER 2005 
Extract:  The Global Economy and Financial Markets – Outlook, Risks and Policy Responses 
 
 The Committee emphasizes that a successful outcome to the Doha Round by the end of 2006 
remains of critical importance for global growth a nd poverty reduction. Serious challenges remain in 
reaching agreement at the WTO ministerial mee ting in Hong Kong SAR in December. As finance 
ministers and central bank governors of WTO member countries, we have a vital interest in successful multilateral trade liberalization. Benefiting from a u seful exchange of views with Mr. Pascal Lamy, 
the Director-General of the WTO, the Committee calls on all countries to ensure progress on 
ambitious trade liberalization with the urgency th at the timetable now demands. Key areas for action 
are: increasing market access, especially for developing countries; significantly reducing trade  WT/TF/COH/22 
 Page 3 
 
 
 distorting domestic support; eliminating all forms of export subsidies in agriculture; and making 
significant progress on services, including financial ser vices, and on issues of intellectual property. 
The Committee welcomes the joint IMF-World Bank staff report on proposals to enable low-income 
countries to benefit fully from trade liberalization,  and urges the Executive Board to consider these 
proposals expeditiously.  
  IV. DEVELOPMENT COMMITTEE – COMMUNIQUÉ, 25 SEPTEMBER 2005 
Extract: 
 
 Stronger country policies and more and more effective aid must be complemented with 
ambitious moves to increase openness and market a ccess and to ensure that trade benefits the poor. 
Without a timely and ambitious outcome for the Doha Development Agenda , developing countries 
will not achieve the economic growth needed to me et the MDGs. As we approach the crucial Hong 
Kong Ministerial meeting, which will be an importa nt milestone toward concluding the Doha Round 
in 2006, now is the time for action by all WTO me mbers to move the negotiations forward, and we 
called upon developed countries to show leadership . We cannot overemphasize the importance for the 
global economy and for meeting the MDGs of achievi ng an outcome that includes: (i) a major reform 
of agricultural trade policies to expand market acce ss and eliminate trade-distorting subsidies; (ii) 
action to open markets in manufactures and services;  and (iii) increased aid for trade to address 
supply-side constraints and enhance the capacity of developing countries to take advantage of 
expanded trade opportunities. We endorsed the propo sal for an enhanced Integrated Framework for 
Trade-related Technical Assistance, including expa nding its resources and scope and making it more 
effective. We asked the Bank and the Fund to exam ine further the adequacy of existing mechanisms 
to address regional or cross-country aid for trade needs and explore new mechanisms as appropriate. 
We supported a strengthened framework for assessi ng adjustment needs so that IFI and donor 
assistance mechanisms can be bette r utilized. We urged the Bank a nd the Fund to better integrate 
trade-related needs into their support for country programs. We also asked the Bank and the Fund to 
continue their global advocacy role on trade and development.   
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