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. The countries of the Mercosur, the South American common market led by Brazil and Argentina, on the other hand, are advocating a "possible" FTAA, with drastically scaled-back goals. (FTAA)Venezuela and many Caribbean countries have also expressed misgivings about the timing of the negotiations and their scope. (Hakim) For the time being the final workable form of the FTAA remains to be thrashed out at the negotiating table.
Will further the effects that NAFTA had on American jobs. Companies are lured progressively south in search of cheaper wages. Companies who have not moved abroad are closing plants because they cannot compete with cheaper imports.