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Note: This is an abstract of key statements from the final communiques of the G7 meetings from 1976-1988 G7 Economic Summit, San Juan, Puerto Rico, 1976 - Joint Declaration of the Conference

Canada, France, Germany, Italy, Japan, UK and US

"The interdependence of our destinies makes it necessary for us to approach common economic problems with a sense of common purpose....." "Significant progress has been achieved since Rambouillet."

President Ford: "Our talks were characterized by a seriousness of purpose,...and a common commitment to strengthen constructive cooperation among all nations."

Have used unemployment as a tool to pass GATT- same for inflation

"Our objective now is to manage effectively a transition to expansion which will be sustainable, which will reduce the high level of unemployment which persists in many countries and will not jeopardize our common aim of avoiding a new wave of inflation. That will call for an increase in productive investment and for partnership among all groups within our societies..."

Ford: "All of us are committed to achieving sustainable growth which will reduce unemployment without..."

"The formulation of such policies, in the context of growing interdependence, is not possible without taking into account the course of economic activity in other countries...."

"With the right combination of policies...progress toward our common goal of eliminating the problem of inflation. Sustained economic expansion and the resultant increase in individual wellbeing cannot be achieved in the context of high rates of inflation."

Structural Reform of the International Monetary System

"AT THE MEETING LAST NOVEMBER, WE RESOLVED DIFFERENCES ON STRUCTURAL REFORM OF THE INTERNATIONAL MONETARY SYSTEM AND AGREED TO PROMOTE A STABLE SYSTEM OF EXCHANGE RATES WHICH EMPHASIZED THE PREREQUISITE OF DEVELOPING STABLE UNDERLYING ECONOMIC AND FINANCIAL CONDITIONS."

Ford: "Each nation should manage its economy and this international monetary affairs so as to correct or avoid persistent or structural international payments imbalances."

Elimination of protectionist trade

"WE WILL CONTINUE TO BUILD ON THIS STRUCTURE OF CONSULTATIONS." "At the OECD (Organization for Economic Co-operation and Development). we reaffirm our pledge to avoid the imposition of new trade barriers."

"...Recently renewed OEDC trade pledge occur, elimination of the restrictions (against protectionism) involved is essential and urgent...."

"We have all set ourselves the objective of completing the Multilateral Trade Negotiations by the end of 1977....in accordance with the Tokyo Declaration..." "In this regard, we view as a constructive development the declaration which was announced last week when the OECD Council met at the Ministerial level." " Cooperation between the two groups must be based on mutual respect..."

Transfer of Wealth--from developed to developing- UNCCTAD IV

"Close collaboration and better coordination are necessary among the industrialized democracies..." "At Rambouillet, the importance of a cooperative relationship between the developed and developing nations was affirmed; particular...following up the results of the 7th Special Session of the UN General Assembly, and especially to addressing the balance-of- payments problems of some developing countries. WE WELCOME THE CONSTRUCTIVE SPIRIT WHICH PREVAILS IN THE WORK CARRIED OUT IN THE FRAMEWORK OF THE CONFERENCE ON INTERNATIONAL ECONOMIC COOPERATION AND...UNCTAD IV

1977 - Declaration - London - May, 1977

World Cooperation and strengthened appropriate international organizations

"The world economy has to be seen as a whole, it involves not only cooperation among national governments but also strengthening appropriate international organizations. We were reinforced in our awareness of the interrelationship of all the issues before us, as well as our own interdependence. We are determined to respond collectively to the challenges of the future."

"We commit our governments to stated economic growth targets or to stabilization policies..."

IMF - play an important role

"Improved financing facilities are needed. The International Monetary Fund must play a prominent role...."

Role of the Open International Trading System

"...the open international trading system, which will increase job opportunities We reject protectionism: it would foster unemployment, increase inflation and undermine the welfare of our peoples....We..give..a new impetus to the Tokyo Round of Multilateral Trade Negotiations...structural changes in the world economy must be taken into consideration"

"We will further conserve energy and increase and diversify energy production so that we reduce our dependence on oil. We are launching an urgent study to determine how best to fulfill these purposes."

"We will further conserve energy and increase and diversify energy production, so that we reduce our dependence on oil. ..We are launching an urgent study to determine how to best fulfill these purposes."

"The world economy can only grow on a sustained and equitable basis if developing countries share in that growth. We are agreed to do all in our power to achieve a successful conclusion of the CIEC [Conference on International Economic Co-operation] and we commit ourselves to a continued constructive dialogue with developing countries...."

Additional power and recognition of Global Institutions

"We will seek that cooperation in appropriate international institutions, such as the UN, the World Bank, the IMF, the GATT and OECD."

"The world economy can only grow on a sustained and equitable basis if developing countries share in that growth...(The G7 made $8B available from the International Development Association) for developing nations over the next 3 years..) An International Fund for Agricultural Development has been created, based on common efforts by the developed OPEC and other developing nations....

We shall work:

Transfer of Wealth

--To increase the flow of aid and other real resources from the industrial to developing countries....

--To facilitate developing countries' access to sources of international finance

--To support such multilateral lending institutions as the world Bank, whose lending capacity, we believe, will have to be increased in the years ahead to permit it lending to increase in real terms...

--To promote the secure investment needed to foster world economic development

--To secure productive result from negotiations about the stabilization of commodity prices and the creation of a Common Fund for individual buffer stock agreements..."

Important

1978 - Summit - Communiqué - Bonn Germany

"Concerned about private flow of investment" check year international funds started

...."There must be a readiness over time to accept and facilitate structural change.

....Measures to prevent such change perpetuate economic inefficiency....place the Using

burden...on trading partners and inhibit the integration of developing countries De. C. as

into the world economy." excuse

20. Need for countries with large current accounts deficits to increase exports and for

countries with large current accounts surpluses to facilitate increases in imports.

27. We agreed to pursue actively the negotiations of a Common Fund to successfully conclusion and to continue our efforts to conclude INDIVIDUAL COMMODITY AGREEMENTS and to complete studies of various ways of stabilizing export earnings.

29. ...Our monetary authorities will continue to intervene to the extent necessary to counter disorderly conditions in the exchange markets. They will maintain extensive consultation to enhance these efforts' effectiveness. We will support surveillance by the IMF to promote effective functioning of the international monetary system.

don't have items 4 - 16, check for any missing items after # 31

--Need OECD Council of Ministers statement from June, 1978

Canada, Germany, France, Italy, Japan, UK, US plus European Community

"We agreed on a comprehensive strategy covering growth, employment and inflation, international monetary policy, energy, trade and other issues of particular interest to developing countries....W are dealing with longterm problems....This strategy is a coherent whole, whose parts are interdependent....

Concerned about "private Flow of Investment"

2. We are concerned, above all, about worldwide unemployment...."We will build...But we need an improvement in growth ...Improved growth will help to reduce protectionist pressures. We need it also to encourage the flow of private investment, on which economic progress depends. We will seek to reduce impediments to private investment, both domestically and internationally.

3. It articulated what each country would do to fight inflation....

--Canada - reduce inflation,

--Germany--it will proposed additional measures up to 1% of GNP ...

--France - a To increase by 1/2 of 1% of GNP the deficit of the budget of the State

--Italy -- raise economic growth in 1979 by 1.5% over 1978. Cut public expenditure while

stimulation investment

--Japan - real growth is 1.5% higher than 1977.

--UK - 1% fiscal stimulus over GNP to fight inflation

--US - Major actions to counter inflation by: tax cutting, reduce government expenditure

very tight budget for 1980 and direct contribution by government regulations or restrictions to rising costs and prices..

Need: Items 4- 16

Expand international trade

17. Determined to expand international trade---one of the driving forces for more sustained and

balanced economic growth. Through joint efforts we will maintain/strengthen the open

international trading system...set forth in the Framework of Understanding on the Tokyo

Round of Multilateral TRADE Negotiations made PUBLIC in Geneva on July 13, 1978.

...GATT rules to be brought more closely into line with the requirements of the next decade...a higher degree of equity and discipline in the international trading system

would be achieved by the creation of new mechanisms in many fields for consultation

and dispute settlement.

--At Downing Street...we rejected a protectionist course for world trade.

18. Renewal of the pledge to maintain an open market oriented economic system

made by the OECD Council of Ministers (June, 1978)....Today's world economic

problems cannot be soled by relapsing into open or concealed protectionism.

19. ....There must be a readiness over time to accept and facilitate structural change.

....Measures to prevent such change perpetuate economic inefficiency....place the Using

burden...on trading partners and inhibit the integration of developing countries De. C. as

into the world economy. excuse

We are determined in our industrial, social, structural and regional policy initiatives....

20. Need for countries with large current accounts deficits to increase exports and for

countries with large current accounts surpluses to facilitate increases in imports.

Economic

Soft Loan Funds of the World Bank

24. Developing countries...can count on us for an increased flow of financial assistance and

other resources for their development....Japan to double their ODA in 3 years.

We support the soft loan funds of the World Bank and the three regional development

banks. Pledge our governments to support replenishment of the IDA....

Commodity Agreements

27. We agreed to pursue actively the negotiations of a Common Fund to successfully conclusion and to continue our efforts to conclude INDIVIDUAL COMMODITY AGREEMENTS and to complete studies of various ways of stabilizing export earnings.

International Monetary Policy

28. The erratic fluctuations of the exchange markets ...have had a damaging effect on confidence,

investment and growth throughout the world. Implementation of the policies described above

in the framework of a CONCERTED PROGRAM will help to bring about a better pattern of world payments balances and lead to greater stability in international exchange markets.

IMF given surveillance of international monetary system

29. ...Our monetary authorities will continue to intervene to the extent necessary to counter

disorderly conditions in the exchange markets. They will maintain extensive consultation

to enhance these efforts' effectiveness. We will support surveillance by the IMF

to promote effective functioning of the international monetary system.

30. Representatives of the European Community to meet at Bremen on July 6, 1967 to consider

a scheme for a closer monetary cooperation.

Conclusion

Measures are mutually reinforcing

31. The measures on which we have agreed are mutually reinforcing. Their total effect

should thus be more than the sum of their parts. We will now seek parliamentary and

public support for these measures. We cannot hope to achieve our purposes alone.

1979 Tokyo - Communiqué

Canada, Germany, France, Italy, Japan, UK and US, along with EU

--Need all items after #8

Coal use at power plants--environment- Int'l Energy Tech Grp/OECD/IEA-(Rod says coal started 1979--

new downward cycle started)

3. We pledge our countries to increase as far as possible coal use, production, and trade, without damage to the environment. We will endeavor to substitute coal for oil in the industrial and electrical sectors, encourage improvement of coal transport, maintain positive attitudes toward investment for coal projects, pledge not to interrupt coal trade under long-term contract...

EMU System and IMF surveillance

7. Bonn Summit--two important developments - Nov. 1, 1978 program by the US along with other monetary authorities and the successful emergence of the European Monetary System. We will continue close cooperation in exchange market policies and in support of the effective discharge by the IMF of its responsibilities, particularly in its

surveillance role and its role in strengthening further the international monetary system.

8. North South Relations--Need flow of financial resources to developing countries to increase

North-South relations are essential to the health of the world economy. The problems we face are global. They can only be resolved through shared responsibility and partnership....The OPEC countries have just as important a role to play....We recognize the need for the flow of financial resources to the developing countries to increase, including private and public, bilateral and multilateral resources. A good investment climate in developing countries will help the flow of foreign investment. We are deeply concerned about he millions of people still living in conditions of absolute poverty.

2. New challenges have arisen. Inflation--now regaining momentum.

--Higher oil prices and shortages...

Common strategy:

--EU to restrict 1979 oil consumption to 500 million tons or 10 m barrels a day

--Canada, Japan and US will achieve the adjusted import levels to which they are pledged

in the International Energy Agency for 1979 and will maintain imports at 1980

levels....The US adopts as a goal for 1985 import levels not to exceed the levels

either of 1977 or the adjusted target for 1979, i.e. 8.5 million barrels per day.

Clean air--switch to coal, Int'l Energy Tech Grp/OECD/IEA--(Rod says coal in decline starting 1979)

3. We pledge our countries to increase as far as possible coal use, production, and trade, without

damage to the environment. We will endeavor to substitute coal for oil in the industrial and

electrical sectors, encourage improvement of coal transport, maintain positive attitudes toward

investment for coal projects, pledge not to interrupt coal trade under long-term contract...

An International Energy Technology Group linked to the OECD, IEA and other appropriate

organizations will be created to review the actions being taken or planned domestically

by each of our countries and to report the need and potential for international collaboration, including financing.

EMU System and IMF surveillance

7. Bonn Summit--two important developments - Nov. 1, 1978 program by the US along with

other monetary authorities and the successful emergence of the European Monetary

System. We will continue close cooperation in exchange market policies and

in support of the effective discharge by the IMF of its responsibilities, particularly in its

surveillance role and its role in strengthening further the international monetary system.

8. North South Relations--Need flow of financial resources to developing countries to increase

North-South relations are essential to the health of the world economy. The problems we

face are global. They can only be resolved through shared responsibility and partnership ....The OPEC countries have just as important a role to play....We recognize the need for the flow of financial resources to the developing countries to increase, including private and public, bilateral and multilateral resources. A good investment climate in developing countries will help the flow of foreign investment.

We are deeply concerned about he millions of people still living in conditions of absolute poverty.

--Help developing countries by urging multilateral organizations to help countries

develop effective food sector strategies and build up storage capacity needed for strong

national food reserves..."

1980 - Need to print out

1981 - Only have Introduction - need to pull everything after Intro

1982 -

1991 - JOINT PRESS CONFERENCE BY MAJOR AND GORBACHEV

G7 - LONDON - July 15-17-91

Note: The UN is becoming the "specialist" in natural disasters -- "human disasters are terrorist...chk the statement. they are weaving and redefining terms and responsibilities...

President Bush and Gorbachev solved remaining impediment to a START agreement. it was received by all the G7 heads...

Theme has been "Building World Partnership"

John Major:

--It is an historic occasion--important the summit participants attach to cooperation with Soviet Union and integrate it into the world economy...Reflects the recognition of new attitudes and new thinking in the Soviet Union....We therefore all agreed to work together to promote the integration of the Soviet Union into the world economy. ...We reached agreement on six specific points:

1. The Summit participants very much welcome a special association for the Soviet Union with the

World Bank and IMF....It will bring many benefit to the Soviet Union, it will enable the Fund and the Bank to offer expert help and advice....

2. We reached agreement on the need for continuing cooperation. The Summit participants are therefore asking all the international Institutions--the OECD, the European Bank for Reconstruction, as well as the IMF and the World Bank--to work together and intensify

their efforts in their support of the Soviet Union....

3. We talked of technical assistance on the importance of intensifying our technical assistance for the Soviet Union. ...

4. Discussed trade

5. We discussed the follow-up to the meeting....

6. We will encourage our Finance Ministers and Minister for Small business to accept invitations

to go to the Soviet Union and to discuss a range of matters with their counterparts in the Soviet

Government...

Gorbachev:

" ..."The Seven-plus-one as I have called it, I think it will develop...."

as well as the IMF and the World Bank --to work closely together and intensify their efforts in

---------------

Press Conference by John Major

1981 G7 - London, England

Allowed drugs so as to tighten all customs, etc...

"... we have invited the Customs Cooperation Council, o the basis of a UK initiative, to strengthen its cooperation with international traders and with international carriers. "

--Stmt by Major on the importance of the Earth Summit

"the meeting brought out particularly clearly the extent to which we all share common values and common approaches to the main global issues that are at present before us. The these for this conference, "Building world partnership and strengthening the international order." Eight achievements from this Summit:

1. ...The text we released earlier this week the Gulf war and the aftermath have shown very

clearly the crucial necessity for strengthening the United Nations. The Security Council and the

Permanent Five of the Council in particular now work together probably as never before in the UN's history. The UN can therefore become an instrument of peace-making and not just peace-keeping, fire prevention and not just fire fighting, and I think that is an imp. development.

We have also proposed concrete steps to enable the UN to carry out one of its most

essential tasks dealing with rapidly, speedily, effectively with emergencies. And probably

only the UN has the prestige and the resources to mobilize the kind of effort we need to

tackle a large human or natural disaster..."

2. ...Ensuring that a country like Iraq can never again build up such a huge and a deadly

arsenal. We have outlined a number of measures we intend to pursue to ensure the better

regulation of conventional arms sales and we are all pressing for the early adoption of a UN arms register....

3. We recognize the increasing signs of economic recovery....This strategy has created the

conditions for sustainable growth and new jobs, it was very successful throughout the 80s....

4. We committed ourselves to an ambitious package of results from the Uruguay Round of

trade negotiations....

5. We renewed our firm commitment to support the economic and political reform efforts of the

Central and East European countries...

6. We welcome the spread of the principles of good government in developing countries....

7. We committed ourselves to work for a successful UN Conference on Environment

and Development at Rio in June of next year...We aim to have achieved in particular a

framework convention on climate change, an agreement on principles for forest conservation. ...We support the negotiation of a framework convention on Biological diversity by the end of next year.

8. We agreed to increase our efforts to reduce the demand for drugs, to improve the capacity

of law enforcement agencies, to target illicit drug movements. In order to do that we have

invited the Customs Cooperation Council, o the basis of a UK initiative, to strengthen its

cooperation with international traders and with international carriers.

Question on Paragraph of the Declaration and the "Farm Ministers."

Prime Major WITH REGARD TO THE RIO EARTH SUMMIT

"What I perhaps should have added in my opening statement is that there was very considerable interest and concern expressed about the very important conference there will be in Rio next year. I hope personally to go to Rio, I believe a number of other Heads of Government will go there, the UN Conference on the Environment and Development will be immensely important, the most important conference of this sort that we have ever seen..."

1988 - Toronto Economic Declaration

--endorse sustainable development and Brundtland Report

#2 - "over the past 14 years, the world economy and economic policy have undergone profound changes. In particular, the information technology revolution and the globalization of markets have increased economic interdependence, making it essential that government consider fully the international dimensions of their deliberations."

#4 - Summits have proven an effective forum to address the issues facing the world economy,

promote new ideas and develop a common sense of purpose.

#31 - We agree that he protection and enhancement of the environment is essential. The

Report of the World Commission on Environment and Development has stressed that

environmental considerations must be integrated into all areas of economic

policymaking if the global is to continue to support "humankind." We endorse the

concept of sustainable development.

#32 - Threats to the environment recognize no boundaries...The (1987?) Montreal Protocol

on Substances that Deplete the Ozone Layer is a milestone. All countries are encouraged to sign and ratify it.

1992 Political Declaration: "Shaping the New Partnership"

Munich, July 6-8, 1992 - G-7