What happens when the 'development of regional groupings' is in practical conflict with the 'need for global coordination of economic policy'? You can want both but as a practical matter the first is an existing element of the EU's trade strategy (through EPAs) which exists as a way of restructuring global trade in the absence of a prospect of coming to a global agreement through the Doha round.

As the EPAs seem less harmful than the Doha round this is not a bad thing on account of getting a global arrangement. Better nothing than Doha. But the accompanying construction of regional trading blocs in the service of the EU market is a questionable matter.