A Free Trade Area of the Americas: Status of Negotiations and Major Policy Issues

In 1994, 34 Western Hemisphere nations met at the first Summit of the Americas, envisioning a plan to create a Free Trade Area of the Americas (FTAA) by January 2005. Nine years later, the third draft text of an agreement is being readied for the eighth trade ministerial scheduled for November 17-21, 2003 in Miami. However, serious differences between Brazil and the United States, similar to those that led to the collapse of the September 2003 WTO talks in Cancún, Mexico, invite a cautious assessment. The Miami ministerial may determine if the FTAA negotiations proceed on time and with the goal of achieving a comprehensive agreement, as first conceived. The 108th Congress has followed developments closely as it exercises its expanded consultative and oversight role per the Trade Promotion Authority (TPA) provisions of the Trade Act of 2002 (P.L. 107-210). This report will be updated periodically