. /.WORLD TRADE ORGANIZATION
ORGANISATION MONDIALE DU COMMERCE
ORGANIZACIÓN MUNDIAL DEL COMERCIOWT/TF/COH/11
21 May 2002
(02-2776)
Original:  English/
French/
Spanish
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 A ffairs, the International Monetary and
Financial Committee of the Board of Governors of the International Monetary Fund,
and the Development Committee,
19-21 April 2002
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, du Comité monétaire et
financier international du Conseil des gouverneurs du Fonds monétaire international
et du Comité du développement
19-21 avril 2001
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 de los comunicados del Grupo Intergubernamental
de los Veinticuatro para Asuntos Monetarios Internacionales, el Comité Monetario
y Financiero Internacional de la Junta de Gobernadores del Fondo Monetario Internacional
y el Comité para el Desarrollo,
19-21 de abril de 2002
                                                     
1In English only./En anglais seulement./En inglés solamente.WT/TF/COH/11
Page 2
I. INTERGOVERNMENTAL GROUP OF TWENTY-FOUR ON INTERNATIONAL
MONETARY AFFAIRS, COMMUNIQUÉ, 19 APRIL 2002
Extract:  Implementing the Monterey Consensus
In order to create a favorable environment for development, Ministers emphasize the need to
enhance market access, especially in product and service areas where developing countries have a
comparative advantage. Access to advanced economy markets is being constrained by protracted
application by advanced economies of trade-distorting measures, including especially the provision of
about $1 billion a day in subsidies to agricultural products, which is equivalent to five times total
ODA. Ministers call for an early elimination of agri cultural subsidies and a substantial reduction in
advanced economy tariffs and other barriers to all developing countries' exports—including duty-free
and quota-free access for the least developed countries.
Ministers stress that effective participation by developing countries in the new round of
multilateral trade negotiations is essential to ensure that the benefits of globalization reach all
countries. In that regard, they call on the IMF and the World Bank to play an active role in
coordinating trade-related technical assistance and capacity-building.
II. INTERNATIONAL MONETARY AND FINANCIAL COMMITTEE OF THE BOARD
OF GOVERNORS OF THE INTERNATIONAL MONETARY FUND –
COMMUNIQUÉ, 20 APRIL 2002
Extract:  The Global Economy
The Committee stresses the vital importance of more open trade for a durable economic
recovery, and for sustained, broad-based growth in the developing countries in particular. It urges all
countries to resist protectionist pressures and to continue to lower trade barriers, concluding the Doha
trade round successfully and in a timely manner. Enlarging market access for developing countriesand phasing out trade distorting subsidies will benefit both developed and developing countries. The
Committee welcomes the commitment, reiterated at M onterrey, to work toward the objective of duty-
and quota-free market access to the exports of least-developed countries. It also notes the potential for
increased opportunities from lowering trade barriers among developing countries.
III. DEVELOPMENT COMMITTEE – COMMUNIQUÉ, 21 APRIL 2002
Extract:
Economic growth requires a strong and vibrant private sector and an enabling climate that
encourages investment, entrepreneurship and job creation. However, it is not enough to strengthen the
private sector in developing countries without fu rther progress in integrating them into the global
trading system. We thus strongly endorsed the call at Monterrey for coherence between developmentassistance and trade policies. We urged an acceleration of efforts to lower trade barriers (including
trade distorting subsidies) and we called upon the Bank and others to provide more support in helping
developing countries address policy, institutional, social and infrastructure impediments limiting their
ability to share in the benefits of trade.
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