Free Trade Area of the Americas (FTAA)
Free Trade Area of the Americas (FTAA) : An initiative taken at the 'Summit of the Americas' in Miami, in December of 1994, by the Heads of State of thirty- four (34) democracies within the 'Americas' region, to unite the economies of the western hemisphere into a single free trade arrangement. The Heads of State also committed themselves to completing negotiations for the agreement by 2005, and to achieving substantial progress toward building the FTAA by 2000. Their decisions are to be found in the Summit's 'Declaration of Principles' and 'Plan of Action' which speak to a "Partnership for Development and Prosperity: Democracy, Free Trade and Sustainable Development in the Americas" as well as addressing such issues and concerns as the need to: (a) Preserve and Strengthen the Community of Democracies of the Americas; (b) Promote Prosperity through Economic Integration and Free Trade; (c) Eradicate Poverty and Discrimination in the Western Hemisphere; (d) Guarantee Sustainable Development and Conserve the Natural Environment for Future Generations. The efforts made by the Heads of State in Miami to create a 'free trade area', was significantly advanced by the San Jose Declaration of 19 March 1998. Agreed to by the thirty- four democracies in the FTAA process, this Declaration served as the basis for the launch of the Hemispheric trade negotiations by Heads of State in Santiago, Chile in April 1998. The Declaration represents: A commitment by the participating countries to the most ambitious undertaking for trade liberalization; and The largest regional integration effort ever undertaken involving both developed and developing countries in a common objective to realize free trade and investment in goods and services, on a basic of strengthened trading rules and disciplines. Negotiations set in place by the San Jose Declaration encompass all of those areas which fall within the ambit of the WTO. It will also deal with areas not presently under the WTO, such as a common investment regime, government procurement and competition policy. Within the negotiations, there are provisions for elements of civil society to make their views known on issues to be negotiated, as well as on the important relationship between trade and the environment and on labour issues as they may affect trade. With a view to furthering the 2005 commitment, the hemispheric leaders met in Quebec, Canada in the month of April 2001. At this meeting an agreement was signed, the principal provisions being to: (a) open their markets by December 2005; (b) exclude undemocratic nations from the free trade area; (c) express concern over flawed elections in Haiti and urge President Aristide to resolve the crisis; (d) support the Colombian peace plan of President Pastrana; (e) Combat poverty and inequality; (f) improve access to quality education; (g) promote internationally-recognized labour standards; (h) respect human rights and fundamental freedoms; (i) Combat global drug problem and related crimes; (j) combat HIV/AIDS and its consequences; (k) Take steps to protect the environment and pursue renewable energy initiatives; (l) ensure safe and healthy working conditions for migrants, and share knowledge to spread the technology revolution
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