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FTAA and its Effects on Latin America - Essay Example
Author : shanahangordon
Pages 7 (1757 words)
The Free Trade Area of the Americas is an accord between leaders of 34 countries of the Western Hemisphere, which was officially launched in December, 1994 at the Summit of the Americas. Participating countries resolved to "begin immediately to construct the (FTAA), in which barriers to trade and investment will be progressively eliminated." The FTAA was concieved as a progressive expansion of the North American Free Trade Agreement (NAFTA)…
A growing world economy will also enhance our domestic prosperity. (Hakim )Free trade and increased economic integration are key factors for raising standards of living, improving the working conditions of people in the Americas and better protecting the environment." This paper seeks to discuss the negative effect that the FTAA would have on Latin American countries.
Although the FTAA agreement was meant to be in force by the 1st January 2005 by the time senior American and Brazilian officials met in Switzerland to try to breathe fresh life into the deal the talks had been stalled for more than a year and the deadline had already been missed.The United States and Brazil are co-chairs of the FTAA negotiations but have had vastly different views of what the final agreement should look like.
There has been very little consensus among the participating countries about either the timing or the scope of the FTAA. The United States, along with 12 other nations (those with which the United States either already has or is negotiating bilateral trade deals), is pushing for the completion of an "ambitious" and far-reaching accord on schedule for implementation by 2005. ...