WASHINGTON (MNI) – The following is the text of a communique of the
G8 leaders Saturday following their meeting in Camp David:

Our imperative is to promote growth and jobs.

The global economic recovery shows signs of promise, but
significant headwinds persist.

Against this background, we commit to take all necessary steps to
strengthen and reinvigorate our economies and combat financial stresses,
recognizing that the right measures are not the same for each of us.

We welcome the ongoing discussion in Europe on how to generate
growth, while maintaining a firm commitment to implement fiscal
consolidation to be assessed on a structural basis. We agree on the
importance of a strong and cohesive Eurozone for global stability and
recovery, and we affirm our interest in Greece remaining in the Eurozone
while respecting its commitments. We all have an interest in the
success of specific measures to strengthen the resilience of the
Eurozone and growth in Europe. We support Euro Area Leaders resolve to
address the strains in the Eurozone in a credible and timely manner and
in a manner that fosters confidence, stability and growth.

We agree that all of our governments need to take actions to boost
confidence and nurture recovery including reforms to raise productivity,
growth and demand within a sustainable, credible and non-inflationary
macroeconomic framework. We commit to fiscal responsibility and, in this
context, we support sound and sustainable fiscal consolidation policies
that take into account countries evolving economic conditions and
underpin confidence and economic recovery.

To raise productivity and growth potential in our economies, we
support structural reforms, and investments in education and in modern
infrastructure, as appropriate. Investment initiatives can be financed
using a range of mechanisms, including leveraging the private sector.
Sound financial measures, to which we are committed, should build
stronger systems over time while not choking off near-term credit
growth. We commit to promote investment to underpin demand, including
support for small businesses and public-private partnerships.

Robust international trade, investment and market integration are
key drivers of strong sustainable and balanced growth. We underscore
the importance of open markets and a fair, strong, rules-based trading
system. We will honor our commitment to refrain from protectionist
measures, protect investments and pursue bilateral, plurilateral, and
multilateral efforts, consistent with and supportive of the WTO
framework, to reduce barriers to trade and investment and maintain open
markets. We call on the broader international community to do likewise.
Recognizing that unnecessary differences and overly burdensome
regulatory standards serve as significant barriers to trade, we support
efforts towards regulatory coherence and better alignment of standards
to further promote trade and growth.

Given the importance of intellectual property rights (IPR) to
stimulating job and economic growth, we affirm the significance of high
standards for IPR protection and enforcement, including through
international legal instruments and mutual assistance agreements, as
well as through government procurement processes, private-sector
voluntary codes of best practices, and enhanced customs cooperation,
while promoting the free flow of information. To protect public health
and consumer safety, we also commit to exchange information on rogue
internet pharmacy sites in accordance with national law and share best
practices on combating counterfeit medical products.

** MNI Washington Bureau: 202-371-2121 **

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