GENEVA (AFP) - The heads of the World Bank and International Monetary Fund (IMF) urged the 146 states in the World Trade Organisation (WTO) to stick to an end-2004 deadline for the conclusion of the Doha round of trade liberalization talks.
The director-general of the WTO, Supachai Panitchpakdi, dubbed the meeting of the leaders of three of the world's top financial institutions at WTO headquarters a "historic" and crucial moment as they sought to boost the flagging trade talks.
"We do think that trade and the successful outcome of the Doha round is a key, possibly the key to build confidence in the global economy," IMF managing director Horst Koehler said here.
The top IMF official warned that UN poverty reduction targets set for 2015 would not be met without an opening of agricultural markets, a key element on the Doha round.
World Bank President James Wolfensohn said there was no way to tackle problems with development in poor countries without dealing with the issue of global trade.
"It is inconceivable that we can talk about dealing with the issues of poverty if we can't deal with the issues of global equity in the area of trade," Wolfensohn said.
Negotiators are struggling to reach agreements unblocking talks on the new trade round, which has been dubbed the "development round" because its is aimed primarily at reducing trade barriers for poorer countries.
Wolfensohn and Koehler joined Supachai to attend a meeting of the WTO's general council, which groups all the trading nations.
Diplomats from some WTO member states called for greater coordination with the IMF and World Bank.
They said the Bretton Woods institutions would need to help with "adjustments" after the end of the trade round from 2005, especially for poorer countries which were dependent on revenue from import tariffs.
Koehler reminded WTO members that the IMF could help countries with balance of payments problems.
"The IMF is supporting the objectives of the Doha round by assisting countries with payment imbalances," he said.
The round of trade successful talks was launched in the Qatari capital Doha in November 2001 during a ministerial meeting of the WTO.
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