WORLD TRADE ORGANIZATION
ORGANISATION MONDIALE DU COMMERCE
ORGANIZACIÓN MUNDIAL DEL COMERCIOWT/TF/COH/17
15 April 2003
(03-2079)
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 and Development, the G-7 Finance Ministers and
Central Bank Governors, the International Monetary and Financial Committee
of the Board of Governors of the International Monetary Fund,
and the Development Committee,
11-13 April 2003
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
11-13 avril 2003
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 los 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,
11-13 de abril de 2003
                                                     
1In English only/En anglais seulement/En inglés solamenteWT/TF/COH/17
Page 2
I. INTERGOVERNMENTAL GROUP OF TWENTY-FOUR ON INTERNATIONAL
MONETARY AFFAIRS AND DEVELOPMENT, COMMUNIQUÉ, 11 APRIL 2003
Extract:  Trade
Ministers see trade as a powerful mechanism for developing countries to benefit from
globalization and for poverty reduction and growth. They express grave concern over the continued
failure of the Doha Round to address the issues of agricultural subsidies and generic drugs, and
question the consistency of the above with the developed countries' commitment to the Monterrey
Consensus. They call upon industrial countries to do more to open their markets, especially for
agriculture, textiles, and clothing, to all developing countries and to eliminate tariff peaks and trade-
distorting subsidies, non-tariff barriers and procedural impediments.
Ministers consider that the success of the upcoming WTO Cancun Ministerial Conference is
necessary for the sustained recovery of the world economy.
II. STATEMENT OF G-7 FINANCE MINISTERS AND CENTRAL BANK
GOVERNORS, 12 APRIL 2003
Extract:
We underscore the importance to global growth and poverty reduction of successful trade
liberalization through the timely implementation of the Doha Development Agenda, notably in
financial services.
III. INTERNATIONAL MONETARY AND FINANCIAL COMMITTEE OF THE BOARD
OF GOVERNORS OF THE INTERNATIONAL MONETARY FUND –
COMMUNIQUÉ, 12 APRIL 2003
Extract:  The Global Economy and Financial Markets
The Committee—having greatly benefited from the views of Dr. Supachai Panitchpakdi,
Director-General of the World Trade Organization—underscores the urgency of concrete progress
toward multilateral trade liberalization under the Doha Round through the continued commitment of
the international community. This will be critical  in supporting higher economic growth and poverty
reduction, and enabling developing countries to participate more fully in the benefits of globalization.
The Committee accordingly calls on industrial, emerging, and developing countries to play their partin renewed efforts to address obstacles to further progress in advance of the ministerial meeting of the
World Trade Organization in Cancún next September. Urgent progress is needed in a number of areas,
including agriculture, where better market access and lower trade distorting subsidies are particularly
important for developing countries. The IMF, in co llaboration with other international institutions,
stands ready to support members' closer regional cooperation in the context of deeper integration intoworld markets.
IV. DEVELOPMENT COMMITTEE – COMMUNIQUÉ, 13 APRIL 2003
Extract:
Trade remains of crucial importance to growth and poverty reduction. At a time of global
uncertainty, it is even more important to dem onstrate that multilateral cooperation can succeed in
meeting the ambitious targets set for the Doha Development Agenda. We urge countries to come to an
agreement quickly in those areas where Doha deadlines have already been missed. It is essential for
developed countries to do more to liberalize their markets and eliminate trade-distorting subsidies,WT/TF/COH/17
Page 3
including in the areas of agriculture, textiles and clothing, which are of particular importance for
developing countries. At the same time, we emphasize the importance of trade facilitation and
liberalization efforts in developing countries. These efforts must be integrated into an overall
development strategy, in conjunction with the necessary policies, infrastructure and institutional
capacities that strengthen their ability to participate in international trade. We call on the Bank and the
Fund to continue to step up their efforts to suppo rt trade. We urge that future Country Assistance
Strategies include trade-enhancing lending operations and capacity building for member countries
where such trade-related support is a clear country priority.
__________