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Back to Introduction to G7/G8 Summit Commitments, 1975–2006

Appendix B
List of Individual Commitments
Cycle 2, 1982–1987

1982 Versailles, France
1983 Williamsburg, U.S.
1984 London, UK
1985 Bonn, Germany
1986 Tokyo, Japan
1987 Venice, Italy
1988 Toronto, Canada

1982 Versailles, France (23 commitments)

G7 Communiqué (23 commitments)

Economic Situation

In this spirit, we have decided to implement the following lines of action:

1982-1. Growth and employment must be increased. This will be attained on a durable basis only if we are successful in our continuing fight against inflation.

1982-2. In order to achieve this essential reduction of real interest rates, we will as a matter of urgency pursue prudent monetary policies and achieve greater control of budgetary deficits.

1982-3. It is essential to intensify our economic and monetary cooperation. In this regard, we will work towards a constructive and orderly evolution of the international monetary system by a closer cooperation among the authorities representing the currencies of North America, of Japan and of the European Community in pursuing medium-term economic and monetary objectives. In this respect, we have committed ourselves to the undertakings contained in the attached statement.

1982-4. We reaffirm our commitment to strengthening the open multilateral trading system as embodied in the GATT and to maintaining its effective operation.

1982-5. In order to promote stability and employment through trade and growth, we will resist protectionist pressures and tradedistorting practices.

1982-6. We are resolved to complete the work of the Tokyo Round and to improve the capacity of the GATT to solve current and future trade problems.

1982-7. We will also work towards the further opening of our markets.

1982-8. We will cooperate with the developing countries to strengthen and improve the multilateral system, and to expand trading opportunities in particular with the newly industrialized countries.

1982-9. We shall participate fully in the forthcoming GATT Ministerial Conference in order to take concrete steps towards these ends.

1982-10. We shall work for early agreement on the renewal of the OECD export credit consensus.

East-West Economic Relations

We agree to pursue a prudent and diversified economic approach to the USSR and Eastern Europe, consistent with our political and security interests. This includes actions in three key areas.

1982-11. First, following international discussions in January, our representatives will work together to improve the international system for controlling exports of strategic goods to these countries and national arrangements for the enforcement of security controls.

1982-12. Second, we will exchange information in the OECD on all aspects of our economic, commercial and financial relations with the Soviet Union and Eastern Europe.

1982-13. Third, taking into account existing economic and financial considerations, we have agreed to handle cautiously financial relations with the USSR and other Eastern European countries in such a way as to ensure that they are conducted on a sound economic basis, including also the need for commercial prudence in limiting export credits.

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Energy

1982-14. Cooperation to develop new energy technologies, and to strengthen our capacity to deal with disruptions, can contribute to our common energy security. We shall also work to strengthen our cooperation with both oil-exporting and oil-importing developing countries.

Development Assistance

1982-15. We are prepared to continue and develop practical cooperation with the developing countries through innovations within the World Bank, through our support of the work of the regional development banks, through progress in countering instability of commodity export earnings, through the encouragement of private capital flows, including international arrangements to improve the conditions for private investment, and through a further concentration of official assistance on the poorer countries.

1982-16. This is why we see a need for special temporary arrangements to overcome funding problems for IDA [International Development Association] VI, and for an early start to consideration of IDA VII.

1982-17. We will give special encouragement to programs or arrangements designed to increase food and energy production in developing countries which have to import these essentials, and to programs to address the implications of population growth.

Economic Situation

1982-18. Revitalization and growth of the world economy will depend not only on our own efforts but also to a large extent upon cooperation among our countries and with other countries in the exploitation of scientific and technological development. We have considered the report presented to us on these issues by the President of the French Republic. In this context we have decided to set up promptly a working group of representatives of our governments and of the European Community to develop, in close consultation with the appropriate international institutions, especially the OECD, proposals to give help to attain these objectives.

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Statement on International Monetary Undertakings

1982-19. We accept a joint responsibility to work for greater stability of the world monetary system. We recognize that this rests primarily on convergence of policies designed to achieve lower inflation, higher employment and renewed economic growth; and thus to maintain the internal and external values of our currencies. We are determined to discharge this obligation in close collaboration with all interested countries and monetary institutions.

1982-20. We are ready to strengthen our cooperation with the IMF in its work of surveillance; and to develop this on a multilateral basis taking into account particularly the currencies constituting the SDR [special drawing rights].

1982-21. We rule out the use of our exchange rates to gain unfair competitive advantages.

1982-22. We are ready, if necessary, to use intervention in exchange markets to counter disorderly conditions, as provided for under Article IV of the IMF Articles of Agreement.

1982-23. We are all convinced that greater monetary stability will assist freer flows of goods, services and capital. We are determined to see that greater monetary stability and freer flows of trade and capital reinforce one another in the interest of economic growth and employment.

Statement on Lebanon (0 commitments)

- no commitments reached

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1983 Williamsburg, U.S. (38 commitments)

G7 Communiqué (33 commitments)

Global Economy

1983-1. We renew our commitment to reduce structural budget deficits, in particular, by limiting the growth of expenditures.

We recognize that we must act together and that we must pursue a balanced set of policies that take into account and exploit relationships between growth, trade, and finance in order that recovery may spread to all countries, developed and developing alike.

In pursuance of these objectives, we have agreed as follows:

1983-2. Our governments will pursue appropriate monetary and budgetary policies that will be conducive to low inflation, reduced interest rates, higher productive investment and greater employment opportunities, particularly for the young.

1983-3. The consultation process initiated at Versailles will be enhanced to promote convergence of economic performance in our economies and greater stability of exchange rates, on the lines indicated in an annex to this declaration.

1983-4. We agree to pursue closer consultations on policies affecting exchange markets and on market conditions.

1983-5. While retaining our freedom to operate independently, we are willing to undertake coordinated intervention in exchange markets in instances where it is agreed that such intervention would be helpful.

1983-6. We commit ourselves to halt protectionism and as recovery proceeds to reverse it by dismantling trade barriers.

1983-7. We intend to consult within appropriate existing fora on ways to implement and monitor this commitment.

1983-8. We shall give impetus to resolving current trade problems.

1983-9. We will actively pursue the current work programs in the General Agreement on Tariffs and Trade (GATT) and Organisation for Economic Co-operation and Development, including trade in services and in high-technology products.

1983-10. We should work to achieve further trade liberalization negotiations in the GATT, with particular emphasis on expanding trade with and among developing countries.

1983-11. We have agreed to continue consultations on proposals for a new negotiating round in the GATT.

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Developing Countries

We view with concern the international financial situation, and especially the debt burdens of many developing nations. We agree to a strategy based on:

1983-12. effective adjustment and development policies by debtor nations;

1983-13. adequate private and official financing;

1983-14. more open markets;

1983-15. and worldwide economic recovery.

1983-16. We will seek early ratification of the increases in resources for the International Monetary Fund and the General Arrangements to Borrow.

1983-17. We encourage closer cooperation and timely sharing of information among countries and the international institutions, in particular between the International Monetary Fund (IMF), the International Bank for Reconstruction and Development (IBRD), and the GATT.

1983-18. Special attention will be given to the flow of resources, in particular official development assistance, to poorer countries, and for food and energy production, both bilaterally and through appropriate international institutions.

1983-19. We reaffirm our commitments to provide agreed funding levels for the International Development Association.

1983-20. We are agreed upon the need to encourage both the development of advanced technology and the public acceptance of its role in promoting growth, employment, and trade.

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Technology, Growth and Employment

1983-21. We have noted with approval the report of the Working Group on Technology, Growth and Employment which was set up at Versailles last year, and commend the progress made in the 18 cooperative projects discussed in that report. We will follow the implementation and coordination of work on these projects, and look forward to receiving a further report at our next meeting.

Energy

1983-22. We all share the view that more predictability and less volatility in oil prices would be helpful to world economic prospects. We agree that the fall in oil prices in no way diminishes the importance and urgency of efforts to conserve energy, to develop economic alternative energy sources, to maintain and, where possible, improve contacts between oil-exporting and importing countries, and to encourage the growth of indigenous energy production in developing countries which at present lack it.

1983-23. We have agreed to strengthen cooperation in protection of the environment, in better use of natural resources, and in health research.

Strengthening Economic Cooperation for Growth and Stability

1983-24. We reaffirm the objectives of achieving non-inflationary growth of income and employment, and promoting exchange market stability through policies designed to bring about greater convergence of economic performance in this direction.

We are reinforcing our multilateral cooperation with the International Monetary Fund in its surveillance activities, according to the procedures agreed at Versailles, through the following approach:

1983-25. We are focusing on near-term policy actions leading to convergence of economic conditions in the medium term. The overall medium-term perspective remains essential, both to ensure that short-term policy innovations do not lead to divergence and to reassure business and financial markets.

1983-26. In accordance with the agreement reached at Versailles, we are focusing our attention on issues in the monetary and financial fields including interaction with policies in other areas.

We shall take fully into account the international implications of our own policy decisions. Policies and objectives that will be kept under review include:

1983-27. Monetary Policy. Disciplined noninflationary growth of monetary aggregates, and appropriate interest rates, to avoid subsequent resurgence of inflation and rebound in interest rates, thus allowing room for sustainable growth.

1983-28. Fiscal Policy. We will aim, preferably through discipline over government expenditures, to reduce structural budget deficits and bear in mind the consequences of fiscal policy for interest rates and growth.

1983-29. Exchange Rate Policy. We will improve consultations, policy convergence, and international cooperation to help stabilize exchange markets, bearing in mind our conclusions on the Exchange Market Intervention Study.

Policies Toward Productivity and Employment. While relying on market signals as a guide to efficient economic decisions, we will take measures to improve training and mobility of our labor forces, with particular concern for the problems of youth unemployment, and promote continued structural adjustment, especially by:

1983-30. Enhancing flexibility and openness of economies and financial markets;

1983-31. Encouraging research and development as well as profitability and productive investment; and

1983-32. Continued efforts in each country, and improved international cooperation, where appropriate, on structural adjustment measures (e.g., regional, sectoral, energy policies).

1983-33. We shall continue to assess together regularly in this framework the progress we are making, consider any corrective action which may be necessary from time to time, and react promptly to significant changes.

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Declaration on Security (5 commitments)

1983-34. As leaders of our seven countries, it is our first duty to defend the freedom and justice on which our democracies are based. To this end, we shall maintain sufficient military strength to deter any attack, to counter any threat, and to ensure the peace. Our arms will never be used except in response to aggression.

1983-35. We wish to achieve lower levels of arms through serious arms control negotiations. With this statement, we reaffirm our dedication to the search for peace and meaningful arms reductions.

1983-36. We are ready to work with the Soviet Union to this purpose and call upon the Soviet Union to work with us.

1983-37. Our nations are united in efforts for arms reductions and will continue to carry out thorough and intensive consultations.

1983-38. We commit ourselves to devote our full political resources to reducing the threat of war.

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1984 London, UK (31 commitments)

G7 Communiqué (25 commitments)

World Economy

1984-1. To continue with and where necessary strengthen policies to reduce inflation and interest rates, to control monetary growth and where necessary reduce budgetary deficits;

To seek to reduce obstacles to the creation of new jobs:

1984-2. by encouraging the development of industries and services in response to demand and technological change, including in innovative small and mediumsized businesses;

1984-3. by encouraging the efficient working of the labor market;

1984-4. by encouraging the improvement and extension of job training;

1984-5. by encouraging flexibility in the patterns of working time; and

1984-6. by discouraging measures to preserve obsolescent production and technology.

1984-7. To support and strengthen work in the appropriate international organizations, notably the OECD, on increasing understanding of the sources and patterns of economic change, and on improving economic efficiency and promoting growth, in particular by encouraging innovation and working for a more widespread acceptance of technological change, harmonizing standards and facilitating the mobility of labor and capital;

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Developing Countries

1984-8. To maintain and wherever possible increase flows of resources including official development assistance and assistance through the international financial and development institutions, to the developing countries and particularly to the poorest countries;

1984-9. to work with the developing countries to encourage more openness towards private investment flows; and

1984-10. to encourage practical measures in those countries to conserve resources and enhance indigenous food and energy production.

In a spirit of cooperation with the countries concerned, to confirm the strategy on debt and continue to implement and develop it flexibly case by case; we have reviewed progress and attach particular importance to:

1984-11. helping debtor countries to make necessary economic and financial policy changes, taking due account of political and social difficulties;

1984-12. encouraging the IMF in its central role in this process, which it has been carrying out skillfully;

1984-13. encouraging closer cooperation between the IMF and the International Bank for Reconstruction and Development (IBRD), and strengthening the role of the IBRD in fostering development over the medium and long term;

1984-14. in cases where debtor countries are themselves making successful efforts to improve their position, encouraging more extended multiyear rescheduling of commercial debts and standing ready where appropriate to negotiate similarly in respect of debts to governments and government agencies;

1984-15. encouraging the flow of long-term direct investment; just as there is need for industrial countries to make their markets more open for the exports of developing countries, so these countries can help themselves by encouraging investment from the industrial countries;

1984-16. encouraging the substitution of more stable long-term finance, both direct and portfolio, for short-term bank lending.

1984-17. To invite Finance Ministers to carry forward, in an urgent and thorough manner, their current work on ways to improve the operation of the international monetary system, including exchange rates, surveillance, the creation, control and distribution of international liquidity and the role of the IMF; and

1984-18. to complete the present phase of their work in the first half of 1985 with a view to discussion at an early meeting of the IMF Interim Committee.

1984-19. To carry forward the procedures agreed at Versailles and at Williamsburg for multilateral monitoring and surveillance of convergence of economic performance toward lower inflation and higher growth;

1984-20. To seek to improve the operation and stability of the international financial system, by means of prudent policies among the major countries, by providing an adequate flow of funding to the international financial institutions, and by improving international access to capital markets in industrialized countries;

1984-21. To urge all trading countries, industrialized and developing alike, to resist continuing protectionist pressures, to reduce barriers to trade and to make renewed efforts to liberalize and expand international trade in manufactures, commodities and services;

1984-22. To accelerate the completion of current trade liberalization programs, particularly the 1982 GATT work program, in cooperation with other trading partners;

1984-23. to press forward with the work on trade in services in the international organizations;

1984-24. to reaffirm the agreement reached at the OECD Ministerial Meeting in May

1984 on the important contribution which a new round of multilateral trade negotiations would make to strengthening the open multilateral trading system for the mutual benefit of all economies, industrial and developing; and, building on the 1982 GATT work program, to consult partners in the GATT with a view to decisions at an early date on the possible objectives, arrangements and timing for a new negotiating round.

Eastern Europe

1984-25. We have decided to invite the Working Group on Technology, Growth and Employment to consider what has been done so far and to identify specific areas for research on the causes, effects and means of limiting environmental pollution of air, water and ground where existing knowledge is inadequate, and to identify possible projects for industrial cooperation to develop costeffective techniques to reduce environmental damage. The Group is invited to report on these matters by 31 December 1984.

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Declaration on Democratic Values (0 commitments)

- no commitments reached

 

Declaration on International Terrorism (5 commitments)

Proposals which found support in the discussion included the following:

1984-26. Closer cooperation and coordination between police and security organizations and other relevant authorities, especially in the exchange of information, intelligence and technical knowledge;

1984-27. Scrutiny by each country of gaps in its national legislation which might be exploited by terrorists;

1984-28. Use of the powers of the receiving State under the Vienna Convention in such matters as the size of diplomatic missions, and the number of buildings enjoying diplomatic immunity;

1984-29. Action by each country to review the sale of weapons to States supporting terrorism;

1984-30. Consultation and as far as possible cooperation over the expulsion or exclusion from their countries of known terrorists, including persons of diplomatic status involved in terrorism.

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Declaration on East-West Relations and Arms Control (0 commitments)

June 9, 1984

- no commitments reached

 

Iraq-Iran Conflict (0 commitments)

1984-31. We encourage the parties to seek a peaceful and honorable settlement. We shall support any efforts designed to bring this about, particularly those of the United Nations Secretary General.

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1985 Bonn, Germany (24 commitments)

G7 Communiqué (24 commitments)

Growth and Employment

In order to sustain non-inflationary growth and higher employment, we have agreed that:

1985-1. We will consolidate and enhance the progress made in bringing down inflation.

1985-2. We will follow prudent, and where necessary strengthened monetary and budgetary policies with a view to stable prices, lower interest rates and more productive investment.

1985-3. Each of our countries will exercise firm control over public spending in order to reduce budget deficits, when excessive, and, where necessary, the share of public spending in Gross National Product.

1985-4. We will work to remove obstacles to growth and encourage initiative and enterprise so as to release the creative energies of our peoples, while maintaining appropriate social policies for those in need.

1985-5. We will promote greater adaptability and responsiveness in all markets, particularly the labor market.

1985-6. We will encourage training to improve occupational skills, particularly for the young.

1985-7. We will exploit to the full the opportunities for prosperity and the creation of permanent jobs, provided by economic change and technological progress.

Building on these common principles, each of us has indicated the specific priorities for national policies.

1985-8. The President of the United States considers it essential to achieve a rapid and appreciable cut in public expenditures and thus a substantial reduction in the budget deficit. He stresses also the need for further deregulation and for a reform of the tax system aimed at encouraging the efficient use of resources and stimulating new saving and investment.

1985-9. The President of the French Republic stresses the need to continue bringing down inflation, to modernize the means of production and to improve employment, to control public spending and to combat social inequality. In that context he attaches high priority to education, research and investment in high technologies with a view to sustained growth.

1985-10. The Government of the United Kingdom will continue to work to reduce inflation and to create the conditions for sustained growth. It will continue to keep public spending under strict control and maintain monetary discipline. It will promote the development of small and mediumsized businesses and advanced technological industries, and encourage initiative and enterprise and the creation of new job opportunities.

1985-11. The Government of the Federal Republic of Germany attaches high priority to strengthening the flexibility and vigor of the economy in order to achieve a lasting improvement in growth and to create new jobs. Small and medium-sized businesses should be especially encouraged as well as high technologies. It will continue to reduce the claims of the public sector on the economy, the budget deficit and the burden of taxation.

1985-12. The Government of Japan considers it essential to persevere with its policy of budgetary discipline and strengthening market functions, particularly with a view to fostering investment. It intends to achieve further progress in deregulating financial markets, promoting the international role of the yen, facilitating access to markets and encouraging growth in imports.

1985-13. The Italian Government gives priority to the further reduction of inflation and of the public deficit, while sustaining growth and investment. Particular emphasis will be put on incentives to create small and mediumsized industries, especially in the field of high technology, and to promote employment, especially for young people.

1985-14. The Government of Canada will focus on promoting investment and creating jobs in the private sector, on removing obstacles to sustained noninflationary growth, on reducing the budget deficit and on restraining government expenditure. It will encourage entrepreneurial activities, with emphasis on the small and mediumsized business sectors.

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Relations with Developing Countries

1985-15. We emphasize the crucial role of, and the improved cooperation between, the International Monetary Fund and the World Bank Group in supporting policies by debtor countries necessary to strengthen the confidence of domestic and foreign creditors and investors, to mobilize domestic savings and to ensure efficient use of resources and sound longterm development. We agree to work to ensure that these institutions are equipped with the necessary resources and instruments, and we stand ready to discuss an increase in the resources available to the World Bank which may be necessary in the coming years.

1985-16. We are deeply concerned about the plight of African peoples who are suffering from famine and drought. We shall continue to supply emergency food aid.

1985-17. In addition, we shall intensify our cooperation with African countries to help them develop their economic potential and a longterm food strategy, based on their own agricultural programs.

1985-18. We are prepared to promote increases in food production by supplying agricultural inputs such as seed, pesticides and fertilizers, within the framework of agricultural development projects.

1985-19. We agree upon the need to improve the existing early warning systems and improve transportation arrangements.

1985-20. We emphasize the need to examine the establishment of a research network on dry zone grains.

1985-21. We shall strengthen our cooperation with African countries in fighting against desertification.

1985-22. Continued efforts are needed by all countries in a position to contribute to any or all of this work. We have set up an expert group to prepare proposals for followup measures to be reported to Foreign Ministers by September 1985.

Multilateral Trading System and International Monetary System

1985-23. It is also essential to improve the functioning of the international monetary system. We take note that the Finance Ministers of the Group of Ten, at their meeting in Tokyo in June, intend to complete their current work on ways to improve the functioning of the monetary system and to put forward proposals, to be discussed at the next meeting of the Interim Committee of the International Monetary Fund in Seoul in October, with a view to making the international monetary system more stable and more effective.

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Environmental Policies

1985-24. We shall harness both the mechanisms of governmental vigilance and the disciplines of the market to solve environmental problems. We shall develop and apply the "polluter pays" principle more widely.

 

Political Declaration on the 40th Anniversary of the End of the Second World War (0 commitments)

- no commitments reached

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1986 Tokyo, Japan (39 commitments)

G7 Communiqué (20 commitments)

1. We stress the need to implement effective structural adjustment policies in all countries across the whole range of economic activities to promote growth, employment and the integration of domestic economies into the world economy.

2. Such policies include technological innovation, adaptation of industrial structure and expansion of trade and foreign direct investment.

3. In each of our own countries, it remains essential to maintain a firm control of public spending within an appropriate mediumterm framework of fiscal and monetary policies.

4. In some of our countries there continue to be excessive fiscal deficits which the governments concerned are resolved progressively to reduce.

We agree, however, that additional measures should be taken to ensure that procedures for effective coordination of international economic policy are strengthened further. To this end, the Heads of State or Government:

5. Agree to form a new Group of Seven Finance Ministers, including Italy and Canada, which will work together more closely and more frequently in the periods between the annual Summit meetings;

6. Request the seven Finance Ministers to review their individual economic objectives and forecasts collectively at least once a year, using the indicators specified below, with a particular view to examining their mutual compatibility;

With the representatives of the European Community:

7. State that the purposes of improved coordination should explicitly include promoting noninflationary economic growth, strengthening marketoriented incentives for employment and productive investment, opening the international trading and investment system, and fostering greater stability in exchange rates;

8. Reaffirm the undertaking at the 1982 Versailles Summit to cooperate with the IMF in strengthening multilateral surveillance, particularly among the countries whose currencies constitute the SDR [Special Drawing Rights], and request that, in conducting such surveillance and in conjunction with the Managing Director of the IMF, their individual economic forecasts should be reviewed, taking into account indicators such as GNP growth rates, inflation rates, interest rates, unemployment rates, fiscal deficit ratios, current account and trade balances, monetary growth rates, reserves, and exchange rates;

The Heads of State or Government:

9. Invite Finance Ministers to report progress at the next Economic Summit meeting.

10. Noting in particular the difficult situation facing those countries highly dependent on exports of primary commodities, we agree to continue to support their efforts for further processing of their products and for diversifying their economies, and to take account of their export needs in formulating our own trade and domestic policies.

11. We reaffirm our willingness to maintain and, where appropriate, expand official financial flows, both bilateral and multilateral, to developing countries.

12. In this connection, we attach great importance to an early and substantial eighth replenishment of the International Development Association (IDA) and to a general capital increase of the World Bank when appropriate.

13. In this connection, we attach great importance to an early and substantial eighth replenishment of the International Development Association (IDA) and to a general capital increase of the World Bank when appropriate.

14. Measures identified in the Report on Aid to Africa adopted and forwarded to us by our Foreign Ministers should be steadily implemented.

15. Assistance should focus in particular on the medium- and longterm economic development of these countries.

16. We intend to participate actively in the forthcoming United Nations Special Session on Africa to lay the foundation for the region’s longterm development.

17. We reaffirm our commitment to halting and reversing protectionism, and to reducing and dismantling trade restrictions.

18. Further liberalization of trade is, we believe, of no less importance for the developing countries than for ourselves, and we are fully committed to the preparatory process in the GATT with a view to the early launching of the new round of multilateral trade negotiations.

19. We shall work at the September Ministerial meeting to make decisive progress in this direction.

20. We note with concern that a situation of global structural surplus now exists for some important agricultural products, arising partly from technological improvements, partly from changes in the world market situation, and partly from longstanding policies of domestic subsidy and protection of agriculture in all our countries. We recognize the importance of understanding these issues and express our determination to give full support to the work of the OECD in this field.

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Statement on International Terrorism (14 commitments)

21. Recognizing that the continuing fight against terrorism is a task which the international community as a whole has to undertake, we pledge ourselves to make maximum efforts to fight against that scourge.

22. We urge all likeminded nations to collaborate with us, particularly in such international fora as the United Nations, the International Civil Aviation Organization and the International Maritime Organization, drawing on their expertise to improve and extend countermeasures against terrorism and those who sponsor or support it.

23. We, the Heads of State or Government, agree to intensify the exchange of information in relevant fora on threats and potential threats emanating from terrorist activities and those who sponsor or support them, and on ways to prevent them.

24. We specify the following as measures open to any government concerned to deny to international terrorists the opportunity and the means to carry out their aims, and to identify and deter those who perpetrate such terrorism.

25. We have decided to apply these measures within the framework of international law and in our own jurisdictions in respect of any State which is clearly involved in sponsoring or supporting international terrorism, and in particular of Libya, until such time as the State concerned abandons its complicity in, or support for, such terrorism.

These measures are:

26. Refusal to export arms to States which sponsor or support terrorism;

27. Strict limits on the size of the diplomatic and consular missions and other official bodies abroad of States which engage in such activities, control of travel of members of such missions and bodies, and, where appropriate, radical reductions in, or even the closure of, such missions and bodies;

28. Denial of entry to all persons, including diplomatic personnel, who have been expelled or excluded from one of our States on suspicion of involvement in international terrorism or who have been convicted of such a terrorist offence;

29. Improved extradition procedures within due process of domestic law for bringing to trial those who have perpetrated such acts of terrorism;

30. Stricter immigration and visa requirements and procedures in respect of nationals of States which sponsor or support terrorism;

31. The closest possible bilateral and multilateral cooperation between police and security organizations and other relevant authorities in the fight against terrorism.

32. Each of us is committed to work in the appropriate international bodies to which we belong to ensure that similar measures are accepted and acted upon by as many other governments as possible.

33. We agree to make the 1978 Bonn Declaration more effective in dealing with all forms of terrorism affecting civil aviation.

34. We are ready to promote bilaterally and multilaterally further actions to be taken in international organizations or fora competent to fight against international terrorism in any of its forms.

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Statement on the Implications of the Chernobyl Nuclear Accident (1 commitment)

35. We remain ready to extend assistance, in particular medical and technical, as and when requested.

36. Each of us is committed to addressing EastWest differences through highlevel dialogue and negotiation.

37. To that end, each of us supports balanced, substantial and verifiable reductions in the level of arms; measures to increase confidence and reduce the risks of conflicts; and the peaceful resolution of disputes.

38. We pledge ourselves afresh to fight against hunger, disease and poverty, so that developing nations can also play a full part in building a common, bright future.

39. We are resolved to pursue effective international action to eliminate the abuse of drugs.

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1987 Venice, Italy (53 commitments)

G7 Communiqué (34 commitments)

Macroeconomic Policies and Exchange Rates

1987-1. Given the policy agreements reached at the Louvre and in Washington, further substantial shifts in exchange rates could prove counterproductive to efforts to increase growth and facilitate adjustment. We reaffirm our commitment to the swift and full implementation of those agreements.

1987-2. Among the Summit countries, budgetary discipline remains an important medium-term objective and the reduction of existing public sector imbalances a necessity for a number of them.

1987-3. Those Summit countries that have made significant progress in fiscal consolidation and have large external surpluses remain committed to following fiscal and monetary policies designed to strengthen domestic growth, within a framework of medium-term fiscal objectives.

1987-4. Monetary policy should also support non-inflationary growth and foster stability of exchange rates. In view of the outlook for low inflation in many countries, a further market-led decline of interest rates would be helpful.

Structural Policies

We also agree on the need for effective structural policies especially for creating jobs. To this end we shall:

1987-5. Promote competition in order to speed up industrial adjustment;

1987-6. Reduce major imbalances between agricultural supply and demand;

1987-7. Facilitate job-creating investment;

1987-8. Improve the functioning of labor markets;

1987-9. Promote the further opening of internal markets; and

1987-10. Encourage the elimination of capital market imperfections and restrictions and the improvement of the functioning of international financial markets.

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Multilateral Surveillance and Policy Coordination

1987-11. The Heads of State or Government reaffirm the important policy commitments and undertakings adopted at the [1987] Louvre and Washington meetings of the Group of Seven, including those relating to exchange rates.

1987-12. They agree that, if in the future world economic growth is insufficient, additional actions will be required to achieve their common objectives. Accordingly, they call on their Finance Ministers to develop, if necessary, additional appropriate policy measures for this purpose and to continue to cooperate closely to foster stability of exchange rates.

The coordination of economic policies is an ongoing process which will evolve and become more effective over time. The Heads of State or Government endorse the understandings reached by the Group of Seven Finance Ministers to strengthen, with the assistance of the International Monetary Fund (IMF), the surveillance of their economies using economic indicators including exchange rates, in particular by:

1987-13. The commitment by each country to develop medium-term objectives and projections for its economy, and for the group to develop objectives and projections that are mutually consistent both individually and collectively; and

1987-14. The use of performance indicators to review and assess current economic trends and to determine whether there are significant deviations from an intended course that require consideration of remedial actions.

The Heads of State or Government consider these measures important steps towards promoting sustained noninflationary global growth and greater currency stability. They call upon the Group of Seven Finance Ministers and Central Bank governors to:

1987-15. Intensify their coordination efforts with a view to achieving prompt and effective implementation of the agreed policy undertakings and commitments;

1987-16. Monitor economic developments closely in cooperation with the Managing Director of the IMF; and

1987-17. Consider further improvements as appropriate to make the coordination process more effective.

Trade

1987-18. We endorse fully the commitment to adopt appropriate measures in compliance with the principles of standstill and roll-back which have been reaffirmed in the Ministerial Declaration on the Uruguay Round.

1987-19. Basing ourselves on the Ministerial Declaration on the Uruguay Round and on the principles of the GATT, we call on all Contracting Parties to negotiate comprehensively, in good faith and with all due dispatch, with a view to ensuring mutual advantage and increased benefits to all participants.

1987-20. Canada, Japan, the United States and the European Community will table a wide range of substantive proposals in Geneva over the coming months.

1987-21. Progress in the Uruguay Round will be kept under close political review.

1987-22. In this context the launching, the conduct and the implementation of the outcome of the negotiations should be treated as parts of a single undertaking; however, agreements reached at an early stage might be implemented on a provisional or definitive basis by agreement prior to the formal conclusion of the negotiations, and should be taken into account in assessing the overall balance of the negotiations.

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Agriculture

1987-23. We reaffirm our commitment to the important agreement on agriculture set out in the OECD ministerial communiqué of May 13, 1987; in particular, the statement of the scope and urgency of the problem which require that a concerted reform of agricultural policies be implemented in a balanced and flexible manner; the assessment of the grave implications, for developed and developing countries alike, of the growing imbalances in supply of and demand for the main agricultural products; the acknowledgment of shared responsibility for the problems as well as for their equitable, effective and durable resolution; the principles of reform and the action required.

1987-24. We underscore our commitment to work in concert to achieve the necessary adjustments of agricultural policies, both at home and through comprehensive negotiations in the Uruguay Round.

1987-25. In this as in other fields, we will table comprehensive proposals for negotiations in the coming months to be conducted in accordance with the mandate in the Ministerial Declaration, and we intend to review at our next meeting the progress achieved and the tasks that remain.

1987-26. In the meantime, in order to create a climate of greater confidence which would enhance the prospect for rapid progress in the Uruguay Round as a whole, and as a step towards the long-term result to be expected from those negotiations, we have agreed, and call upon other countries to agree, to refrain from actions which, by further stimulating production of agricultural commodities in surplus, increasing protection or destabilizing world markets, would worsen the negotiating climate and, more generally, damage trade relations.

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Developing Countries and Debt

1987-27. We underline the continuing importance of official development assistance and welcome the increased efforts of some of our countries in this respect. We recall the target already established by international organizations (0.7 percent) for the future level of official development assistance, and we take note that overall financial flows are important to development.

1987-28. For the major middle-income debtors, we continue to support the present growth-oriented case-by-case strategy. Three elements are needed to strengthen the growth prospects of debtor countries: the adoption of comprehensive macroeconomic and structural reforms by debtor countries themselves; the enhancement of lending by international financial institutions, in particular the World Bank; and adequate commercial bank lending in support of debtor country reforms. We shall play our part by helping to sustain growth and expand trade.

1987-29. There is equally a need for timely and effective mobilization of lending by commercial banks. In this context, we support efforts by commercial banks and debtor countries to develop a "menu" of alternative negotiating procedures and financing techniques for providing continuing support to debtor countries.

1987-30. For those of the poorest countries that are undertaking adjustment effort, consideration should be given to the possibility of applying lower interest rates to their existing debt, and agreement should be reached, especially in the Paris Club, on longer repayment and grace periods to ease the debt service burden.

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Environment

1987-31. Further to our previous commitment to preserve a healthy environment and to pass it on to future generations, we welcome the report by the environment experts on the improvement and harmonization of techniques and practices of environmental measurement. Accordingly, we encourage the United Nations Environment Programme (UNEP) to institute a forum for information exchange and consultation in cooperation with the International Organization for Standardization (ISO) and the International Council of Scientific Unions (ICSU), assisted by other interested international organizations and countries, so that continuing progress in this important field can be ensured. The priority environmental problems identified by the environmental experts in their report should receive full attention.

1987-32. We underline our own responsibility to encourage efforts to tackle effectively environmental problems of worldwide impact such as stratospheric ozone depletion, climate change, acid rains, endangered species, hazardous substances, air and water pollution, and destruction of tropical forests.

1987-33. We also intend to examine further environmental issues such as stringent environmental standards as an incentive for innovation and for the development of clean, costeffective and lowresource technology; as well as promotion of international trade in lowpollution products, lowpolluting industrial plants and other environmental protection technologies.

Other Issues

1987-34. We shall continue to review the ethical implications of developments in the life sciences. Following the conferences sponsored by Summit governments by Japan in 1984, by France in 1985, by the Federal Republic of Germany in 1986 and by Canada in 1987 we welcome the Italian Government’s offer to host the next bioethics conference in Italy in April 1988.

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Statement on East-West Relations (5 commitments)

1987-35. Within existing alliances, each of us is resolved to maintain a strong and credible defense which threatens the security of no one, protects freedom, deters aggression and maintains peace.

1987-36. We shall continue to consult closely on all matters affecting our common interest. We will not be separated from the principles that guide us all.

1987-37. We reaffirm our commitment to peace and increased security at lower levels of arms.

1987-38. We seek a comprehensive effort to lower tensions and to achieve verifiable arms reductions.

1987-39. Thus, we each seek to stabilize military competition between East and West at lower levels of arms; to encourage stable political solutions to regional conflicts; to secure lasting improvements in human rights; and to build contacts, confidence and trust between governments and peoples in a more humane world.

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Statement on Terrorism (13 commitments)

We, the Heads of State or Government of seven major democracies and the Representatives of the European Community assembled here in Venice, profoundly aware of our peoples’ concern at the threat posed by terrorism:

1987-40. Reaffirm our commitment to the statements on terrorism made at previous Summits in Bonn, Venice, Ottawa, London and Tokyo;

1987-41. Confirm the commitment of each of us to the principle of making no concessions to terrorists or their sponsors;

1987-42. Remain resolved to apply, in respect of any State clearly involved in sponsoring or supporting international terrorism, effective measures within the framework of international law and in our own jurisdictions;

1987-43. Reaffirm our determination to combat terrorism both through national measures and through international cooperation among ourselves and with others, when appropriate, and therefore renew our appeal to all like-minded countries to consolidate and extend international cooperation in all appropriate fora;

1987-44. We will continue our efforts to improve the safety of travelers.

1987-45. We welcome improvements in airport and maritime security, and encourage the work of ICAO [International Civil Aviation Organization] and IMO [International Maritime Organization] in this regard. Each of us will continue to monitor closely the activities of airlines which raise security problems.

1987-46. The Heads of State or Government have decided on measures, annexed to this statement, to make the 1978 Bonn Declaration more effective in dealing with all forms of terrorism affecting civil aviation;

1987-47. Commit ourselves to support the rule of law in bringing terrorists to justice.

1987-48. Each of us pledges increased cooperation in the relevant fora and within the framework of domestic and international law on the investigation, apprehension and prosecution or terrorists. In particular, we reaffirm the principle established by relevant international conventions of trying or extraditing, according to national laws and those international conventions, those who have perpetrated acts of terrorism.

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Annex

1987-49. The Heads of State or Government recall that in their Tokyo Statement on international terrorism they agreed to make the 1978 Bonn Declaration more effective in dealing with all forms of terrorism affecting civil aviation.

1987-50. To this end, in cases where a country refuses extradition or prosecution of those who have committed offences described in the Montreal Convention for the Suppression of Unlawful Acts against the Safety of Civil Aviation and/or does not return the aircraft involved, the Heads of State or Government are jointly resolved that their Governments shall take immediate action to cease flights to that country as stated in the Bonn Declaration.

1987-51. At the same time, their Governments will initiate action to halt incoming flights from that country or from any country by the airlines of the country concerned as stated in the Bonn Declaration.

1987-52. The Heads of State or Government intend also to extend the Bonn Declaration in due time to cover any future relevant amendment to the above Convention or any other aviation conventions relating to the extradition or prosecution of the offenders.

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Statement on Iraq-Iran War and Freedom of Navigation in the Gulf (0 commitments)

- no commitments reached

 

Chairman’s Summary on Political Issues (0 commitments)

- no commitments reached

 

Chairman’s Statement on AIDS (0 commitments)

- no commitments reached

Chairman’s Statement on Drugs (1 commitment)

1987-53. The Heads of State and Government intend to continue their fight against illegal production and distribution of drugs and to create all necessary conditions for more effective international cooperation.

They will also work for the eradication of illegal cultivation of natural drugs and for its replacement with other types of production which will further the aims of social and economic development.

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1988 Toronto, Canada (27 commitments)

G7 Communiqué (16 commitments)

Macroeconomic Policies and Exchange Rates

1988-1. We need to maintain vigilance against any resurgence of inflation. We reaffirm our determination to follow and, wherever feasible, strengthen our agreed strategy of coordinated efforts to reduce the growth of spending in countries with large external deficits and to sustain the momentum of domestic demand in those with large external surpluses.

Structural Reforms

1988-2. We shall collectively review our progress on structural reforms and shall strive to integrate structural policies into our economic coordination process.

1988-3. We will continue to pursue structural reforms by removing barriers, unnecessary controls and regulations; increasing competition, while mitigating adverse effects on social groups or regions; removing disincentives to work, save, and invest, such as through tax reform; and by improving education and training.

1988-4. One of the major structural problems in both developed and developing countries is in the field of agricultural policies. It is essential that recent significant policy reform efforts undertaken by a number of parties be continued through further positive action by all Summit participants.

1988-5. Financial and technological innovations are rapidly integrating financial markets internationally, contributing to a better allocation of capital but also increasing the speed and extent to which disturbances in one country may be transmitted to other countries. We will continue to cooperate with other countries in the examination of the functioning of the global financial system, including securities markets.

Multilateral Trading System / Uruguay Round

1988-6. We support efforts to adopt a framework approach, including short- as well as long-term elements which will promote the reform process as launched last year and relieve current strains in agricultural markets.

1988-7. This would be facilitated by a device for the measurement of support and protection. Also, ways should be developed to take account of food security and social concerns.

1988-8. To move the issue forward, and noting among other things the diversity of our agricultural situations, our negotiators in Geneva must develop a framework approach which includes shortterm options in line with longterm goals concerning the reduction of all direct and indirect subsidies and other measures affecting directly or indirectly agricultural trade. The objective of the framework approach would be to make the agricultural sector more responsive to market signals.

1988-9. To this end, we support efforts to adopt a framework approach on all issues in the negotiations, i.e., reform of the GATT system and rules, market access, agriculture and new issues (such as trade in services, trade-related intellectual property rights, and trade-related investment measures).

1988-10. For our part, we are committed to ensure that the Mid-Term Review establishes a solid base for the full and complete success of the negotiations, in accordance with the Punta del Este Declaration.

1988-11. We resolve to progressively liberalize international investment policies and urge other countries to do likewise.

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Middle-Income Countries

1988-12. We endorse the recent initiatives taken by the International Monetary Fund to strengthen its capacity to support medium-term programs of macroeconomic adjustment and structural reform, and to provide greater protection for adjustment programs from unforeseen external developments.

1988-13. We strongly support the full implementation of the World Bank’s U.S. $75 billion General Capital Increase to strengthen its capacity to promote adjustment in middle-income countries.

1988-14. We also support greater awareness by international financial institutions of the environmental impact of their development programs.

Debt of the Poorest

1988-15. An increase in concessional resource flows is necessary to help the poorest developing countries resume sustained growth, especially in cases where it is extremely difficult for them to service their debts.

1988-16. We have achieved consensus on rescheduling official debt of these countries within a framework of comparability that allows official creditors to choose among concessional interest rates usually on shorter maturities, longer repayment periods at commercial rates, partial writeoffs of debt service obligations during the consolidation period, or a combination of these options. This approach allows official creditors to choose options consistent with their legal or budgetary constraints.

Environment

- no commitments reached

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Political Declaration (7 commitments)

East-West

1988-17. We welcome the beginning of the Soviet withdrawal of its occupation troops from Afghanistan. It must be total and apply to the entire country. The Afghan people must be able to choose their government freely. Each of us confirms our willingness to make our full contribution to the efforts of the international community to ensure the return of the refugees to their homeland, their resettlement, and the reconstruction of their country.

1988-18. Since our last meeting, progress has been made between the United States and the Soviet Union in agreeing to reduce nuclear weapons in a manner which accords fully with the security interests of each of our countries. The INF [IntermediateRange Nuclear Forces] Treaty, the direct result of Western firmness and unity, is the first treaty ever actually to reduce nuclear arms. It sets vitally important precedents for future arms control agreements: asymmetrical reductions and intrusive verification arrangements. We now look for deep cuts in U.S. and Soviet strategic offensive arms. We congratulate President Reagan on what he has already accomplished, along with General Secretary Gorbachev, towards this goal.

1988-19. We seek the early establishment of a comprehensive, effectively verifiable, and truly global ban on chemical weapons.

1988-20. We pay special attention to the countries in Eastern Europe. We encourage them to open up their economies and societies, and to improve respect for human rights. In this context we support the continuation and strengthening of the Helsinki process.

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Terrorism

1988-21. We strongly reaffirm our condemnation of terrorism in all its forms, including the taking of hostages. We renew our commitment to policies and measures agreed at previous Summits, in particular those against state-sponsored terrorism.

1988-22. We reaffirm our determination to continue the fight against terrorism through the application of rule of law, the policy of no concessions to terrorists and their sponsors, and international cooperation.

Narcotics

1988-23. We support the initiative of the Government of the United States for a special task force to be convened to propose methods of improving cooperation in all areas including national, bilateral and multilateral efforts in the fight against narcotics.

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Chairman’s Summary of Political Issues (4 commitments)

Middle East

1988-24. We declare our support for the convening of a properly structured international conference as the appropriate framework for the necessary negotiations between the parties directly concerned.

1988-25. We reaffirm our support for Security Council Resolution 598, which was adopted unanimously.

1988-26. We express our warm appreciation for the efforts of the Secretary-General to work for a settlement on this basis and reiterate our firm determination to ensure implementation of this mandatory resolution by a followup resolution.

1988-27. We condemn the use of chemical weapons by either party, deplore proliferation of ballistic missiles in the region, and renew our commitment to uphold the principle of freedom of navigation in the Gulf.

South Africa

- no commitments reached

Cambodia

- no commitments reached

Human Frontier Science Program

- no commitments reached

Bioethics

- no commitments reached

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