Brussels, 17/11/2008 (Agence Europe) - Meeting in Washington on 15 November 2008 for a summit to look at an overhaul of the international financial system (see related article), the leaders of the world's G20 economic powers confirmed their desire to open up markets. The reforms of the international financial system discussed in Washington at the weekend “will only be successful if grounded in a commitment to free market principles… open trade and investment,” they explained in their declaration. “We underscore the critical importance of rejecting protectionism and not turning inward in times of financial uncertainty. In this regard, within the next 12 months, we will refrain from raising new barriers to investment or to trade in goods and services, imposing new export restrictions, or implementing World Trade Organisation inconsistent measures to stimulate exports. Further, we shall strive to reach agreement this year on modalities that leads to a successful conclusion not the WTO's Doha Development Agenda with an ambitious and balanced outcome.” The G20 leaders instruct their trade ministers to go back to the negotiating table four months after the collapse of the WTO talks in Geneva in July 2008 (see EUROPE 9714). Close sources suggest that the WTO directorate-general may convene a new ministerial meeting in Geneva in mid-December, assuming the necessary technical progress is made in the meantime. (E.H./trans.fl)