Free Trade Area Of The Americas (ftaa)The Free Area Trade of the Americas (FTAA) seeks to promote free trade and economic integration on a large scale basis. The FTAA has the significance of being the largest regional integration in history between developed and developing countries, with the ultimate goal of liberalizing trade of goods and services by the year 2005. This negotiation process for the terms of this agreement is still undergoing. The Free Trade Area of the Americas (FTAA) is the expansion of the North American Free Trade Agreement (NAFTA) to every country in Central America, South America and the Caribbean, except Cuba. Negotiations began right after the launch of NAFTA in 1994 and are set to be completed in 2005.
The following questions have been addressed in this article:How does the FTAA compare with the NAFTA?
What have the criticisms been with the FTAA?
What are the guiding principles of the FTAA negotiation process?