"A successful conclusion of an ambitious, balanced and comprehensive WTO Doha agreement is critical to economic growth and development," said the statement, calling all WTO members to make substantial contributions with a view to establishing modalities for Agriculture and NAMA (Non-Agricultural Market Access) and achieving positive and tangible results on services.

On the sharp rise in oil prices, the G8 leaders called for concerted efforts to address the underlying causes for the benefit of all.

"Greater transparency will lead to better functioning energy markets and hence a better balance between supply and demand," said the G8 leaders.

"Therefore, we need to improve collection and timely reporting of market data on oil and develop shared analysis of oil market trends and outlook," they said.

The leaders also said that they welcome the progress of the Heiligendamm Process, the topic-driven political dialogue on an equal footing between the G8 and major emerging economies to enhance mutual confidence and understanding and to develop a true partnership focusing on investment, innovation, energy efficiency and development.

"We look forward to discussing these issues with the leaders of Brazil, China, India, Medico and South Africa on July 9," the leaders said in the statement.

(Xinhua News Agency July 8, 2008)