For Immediate Release
Office of the Press Secretary
June 9, 2004
G-8 Leaders' Statement on Trade
We face a moment of strategic economic opportunity: by combining
an upturn in growth in various regions with a global reduction in
barriers to trade, we can deepen, broaden, and extend this economic
expansion.
Trade liberalization is key to boosting global prosperity. It is
one of the most effective ways to generate economic growth, and
represents great potential for development and raising living
standards.
We are committed to the multilateral trading system as the best
means of achieving greater and effective trade liberalization and
stronger global trade rules. The WTO has played a key role in driving
global growth, and must continue to do so. The G-8 is committed to
expanding economic growth, development, and opportunity by achieving
ambitious results in the global trade negotiations, the Doha
Development Agenda (DDA) of the WTO. We are encouraged by the
reinvigoration of the negotiations in recent weeks. Working in
cooperation with other WTO members, we are determined to move
expeditiously before the end of July to complete the frameworks on key
issues that will put these far-reaching negotiations on track toward a
rapid and successful conclusion. We call on all WTO members to work
constructively and swiftly so we can meet our shared commitment to the
DDA.
Our most pressing task is to focus on the core issues in the
negotiations, which are drivers of economic development and growth:
substantially reducing trade-distorting agricultural subsidies and
barriers to access to markets; opening markets more widely to trade in
goods; expanding opportunities for trade in services; overhauling and
improving customs rules and other relevant procedures to facilitate
trade; and advancing the development of all countries, especially the
poorest, within the WTO system. A consensus appears to be emerging on
a way forward for these issues. We must ensure that we maintain a high
and consistent level of ambition in all areas, while bearing in mind
all members' sensitivities.
In agriculture, we are on the verge of an historic opportunity to
meet our objectives established at Doha for fundamental agricultural
reform encompassing strengthened rules and specific commitments on
support and protection in order to correct and prevent restrictions and
distortions in world agricultural markets. The next step is to secure
the framework, by July, for these comprehensive negotiations on all
forms of export competition, domestic support and market access. All
three pillars of the agriculture negotiations must be treated with
equal ambition. Cotton, a matter of primary concern to our African
partners, can best be addressed ambitiously as part of the agricultural
negotiations, while at the same time working on development-related
issues with the international financial institutions.
Movement on agriculture will help generate progress in other core
issues of the DDA, including agreement to launch negotiations on trade
facilitation, as well as continuing to liberalize trade in manufactures
and services, and strengthening WTO rules. In addition to expanding
trade between developed and developing countries, it is particularly
important that the DDA encourage the expansion of South-South trade.
Open markets and domestic reform go hand in hand, offering the best
means to further integrate developing countries into the global
economy. We must ensure that as we look forward, the poorest are not
left behind, but that they too develop the capacity to participate in
the global trading system. We recognize that different countries will
need to move at different speeds towards this aim.
The progressive integration by developing countries of trade into
their development policies and poverty reduction strategies is crucial
for their integration in the global economy, and will increase the
benefits they derive from the multilateral trading system. We call on
developing countries to further increase their efforts in this regard,
and pledge to provide strong support in the form of technical
assistance to build trading capacity.
We are determined to seize this moment of strategic economic
opportunity. Therefore, we direct our ministers and call on all WTO
members to finalize the frameworks by July to put the WTO negotiations
back on track so that we can expeditiously complete the Doha
Development Agenda.
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