The effort to unite the economies of the Americas into a single free trade area began in December 1994. The Heads of State and Government of the 34 democracies in the region agreed to construct a Free Trade Area of the Americas, or FTAA, in which barriers to trade and investment will be progressively eliminated. They agreed to complete negotiations towards this agreement by the year 2005.
The FTAA negotiations were formally launched in April 1998. Twelve working groups have been created to address the issues of: market access, customs procedure and rules of origin, investment, standards and technical barriers to trade, sanitary and phytosanitary measures, subsidies, antidumping and countervailing duties, smaller economies, government procurement, intellectual property rights, services, competition policy, and dispute settlement.
In November 2003 it was agreed that in the agreement countries may assume different levels of commitments. Negotiators will work to develop a common and balanced set of rights and obligations applicable to all countries. In addition, negotiations will allow for countries that so choose, within the FTAA, to agree to additional obligations and benefits.
For more information on the negotiations of the FTAA please consult one of the following websites: