[Weekly Compilation of Presidential Documents Volume 40, Number 24 (Monday, June 14, 2004)]
[Pages 1041-1043]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
G-8 Leaders' Statement on Trade

June 9, 2004

    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,

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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.

Note: An original was not available for verification of the content of 
this joint statement.

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