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Free Trade Area of the Americas

The Free Trade Area of the Americas (FTAA) is the formal name given to an 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 completion of NAFTA in 1994 and are to be completed by the end of 2004, to be implemented in 2005.

Throughout much of the 1990s the global trading system has witnessed a proliferation of Free Trade Agreements, even among those countries that had long avoided such agreements. According to the World Trade Organisation, a total of 259 regional trade agreements have been notified to the GATT/WTO by the end of 2002, collectively involving nearly every country in the world. This astounding statistic indicate that there is recognition among many nations that trade liberalization is one of the most effective policy i...

Posted by: Alyscia Yellowman

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