Treasury Secretary James Baker said the finance ministers from the group of seven industrial
countries have agreed on a new process for economic
coordination. He declined to be specific.
    Meeting with reporters to discuss the upcoming economic
summit in Venice, Baker said the finance ministers will unveil
the new process, a year in the development, to the heads of
state at that meeting.
    Baker said that in cooperation with the other countries,
details will not be made public.
    Baker said the United States hoped to get a new committment
by the other industrial countries to reduce trade friction over
agricultural products which he said was the major trade issue
facing the global economy.
    He said, however, that it was not expected that any
specific new program would come from the meetings.
 Reuter
