WORLD TRADE ORGANIZATION  
ORGANISATION MONDIALE DU COMMERCE  
ORGANIZACIÓN MUNDIAL DEL COMERCIO  WT/TF/COH/24 
20 September 2006 
 (06-4476) 
 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 , 
16-18 September 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  
16-18 septembre 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 ,  
16-18 de septiembre de 2006  
 
 
                                                      
1In English only./En anglais seulement./En inglés solamente. 
 WT/TF/COH/24 
Page 2  
 
  I. INTERGOVERNMENTAL GROUP OF TW ENTY-FOUR ON INTERNATIONAL 
MONETARY AFFAIRS AND DEVELOPMENT, COMMUNIQUÉ, 16 SEPTEMBER 2006 
Extract:  Trade 
 
 Ministers express deep disappointment about the suspension of the Doha Round of 
multilateral trade negotiations.  They stress that th e current trading system is heavily biased against 
developing countries, especially the least developed, particularly owing to the wide array of harmful 
subsidies, tariff escalation schemes, and non-tariff rest rictions maintained by industrialized countries.  
Ministers reiterate that an ambitious and appropr iately balanced conclusion of the Round holds the 
potential to yield significant global welfare gains and to deliver on its promise to support development 
and poverty reduction in low- and middle-income countries.  A failure to overcome the current 
impasse risks squandering years of effort and an important opportunity to make progress in areas of interest to all countries, while opening the door to  an exacerbation of protectionist trends across the 
globe.  Ministers call for an urgent resumption of negotiations.  They urge the IMF and World Bank 
to support this effort, including by helping to make  the case for the Round by highlighting its potential 
economic benefits, as well as the costs to all countri es of trade distortions and barriers, particularly 
from agricultural subsidies and tariff escalation sch emes in advanced economies.  Ministers welcome 
recent proposals regarding the "aid for trade" age nda, while reiterating the view that this initiative 
should not be a substitute for an am bitious Doha Round.  In addition to their concerns regarding the 
future of the Doha Round, Ministers also regret re cent attempts at inappropriate political interference 
in the smooth functioning of the international trade, banking, and financial system.   
 
II. STATEMENT BY G-7 FINANCE MINISTERS AND CENTRAL BANK 
GOVERNORS, 16 SEPTEMBER 2006 
Extract: 
 
 We stress the importance of advancing multilate ral trade liberalization, which is essential to 
enhancing global growth and reducing poverty.  We urge all parties to show political will and 
flexibility necessary to resume the Doha Developm ent Round as soon as possible, in order to achieve 
a comprehensive package in agriculture, industr ial products, services, including financial services, 
intellectual property and WTO trade rules.  This must  address the concerns of developing countries, in 
particular the least developed countries.  We also emphasize the importance of delivering aid for trade 
to low-income countries, consistent with the princi ple of aid-effectiveness.  We underline the need to 
combat counterfeiting and piracy.    
III. INTERNATIONAL MONETA RY AND FINANCIAL COMMITTEE OF THE BOARD 
OF GOVERNORS OF THE INTERNATIONAL MONETARY FUND – 
COMMUNIQUÉ, 17 SEPTEMBER 2006 
Extract:  The Global Economy and Financial Markets – Outlook, Risks, and Policy Responses 
 
 Following our meeting with business leaders,  we reconfirm our shared commitment to 
strengthen the foundations of a globalized economic and financial system that promotes growth and 
poverty reduction and provides equitable opportunities for all.  The Committee also received a report 
on the current status of the multilateral trade negotiations under the Doha Round from 
Mr. Pascal Lamy, Director-General of the WTO.  The Committee expresses its deep disappointment 
that the trade negotiations have been suspended.   It urges all WTO Members to maintain their 
commitment to the rules-based multilateral trading system, resist protectionist calls, and preserve 
progress that has already been made.  The Committ ee calls for leadership from the major trading 
nations to work urgently toward an early resump tion of the negotiations, and an ambitious, successful  WT/TF/COH/24 
 Page 3 
 
 
  outcome by the end of the year, based on a commit ment to a comprehensive package on agriculture, 
industrial products, and services, to which a ll countries will need to contribute.   
  The Committee recognizes the importance of achie ving the MDGs.  In this context it also 
stresses the importance of implementing Aid-for-T rade assistance, which is firmly grounded in 
national development strategies, independent of  progress on the Doha Round.  We welcome the 
reports of the taskforces on the Integrated Fr amework and on Aid for Trade and the financing 
commitments by donors for the enhanced Integrated Framework.  
IV. DEVELOPMENT COMMITTEE – COMMUNIQUÉ, 18 SEPTEMBER 2006 
Extract: 
 
 The de facto suspension of the Doha negotiations  represents a setback in our effort to make 
more rapid progress towards achieving the MDGs.  We re-emphasized the importance of the multilateral trading system and called upon all WTO Me mbers to avoid backsliding and provide trade 
ministers with the necessary flexibility to resume th e negotiations by the end of the year.  We also 
called on the Bank and the Fund to co ntinue their global advocacy role  on trade and development, and 
to foster the integration of trade into country prog rammes.  While recognizing that aid for trade is not 
a substitute for trade liberalization, we reitera ted our commitment to expanding the funding and 
strengthening the mechanisms for Aid for Trade.   We welcomed the recommendations of the WTO 
Task Forces on Aid for Trade and the Integrated Framework (IF), both of which explicitly recognize 
the need to adhere to the Paris Declaration on ai d effectiveness.  We took note of the new governance 
mechanisms proposed for the e nhanced IF, and reiterated the importance of working through 
established channels with proven deve lopment expertise.  We noted the interest in extending a similar 
process to other poor countries that are not Least Deve loped Countries.  We urged the Bank to work 
with these countries to incorporate trade needs into their national development strategies.  We also 
agreed on the need to improve existing instrument s to address cross-country and regional projects and 
strengthen the monitoring of re gional initiatives and funding.   
  
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