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

Description:

At the second Summit of the Americas in Santiago, Chile (April 1998), 34 Western Hemisphere nations agreed to initiate formal negotiations to create a Free Trade Area of the Americas (FTAA) by 2005. The process so far has led to two draft texts, the second completed for the November 1, 2002 trade ministerial in Quito, Ecuador. The many sections of “bracketed” text indicate that there are still significant differences to be worked out. Although implementing legislation is not anticipated until the next Congress at the earliest, for an FTAA agreement to be signed in January 2005, the 108th Congress, having an expanded oversight authority as defined in the Trade Act of 2002 (P.L. 107-210), will play a crucial role during this last phase of the FTAA negotiations. This report will be updated periodically.

Creator(s):
Location(s):
Creation Date: January 2, 2003
Partner(s):
UNT Libraries Government Documents Department
Collection(s):
Congressional Research Service Reports
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Publisher Info:
Place of Publication: Washington D.C., USA
Date(s):
  • Creation: January 2, 2003
Coverage:
Place
North America
Place
South America
Place
Central America and Caribbean
Description:

At the second Summit of the Americas in Santiago, Chile (April 1998), 34 Western Hemisphere nations agreed to initiate formal negotiations to create a Free Trade Area of the Americas (FTAA) by 2005. The process so far has led to two draft texts, the second completed for the November 1, 2002 trade ministerial in Quito, Ecuador. The many sections of “bracketed” text indicate that there are still significant differences to be worked out. Although implementing legislation is not anticipated until the next Congress at the earliest, for an FTAA agreement to be signed in January 2005, the 108th Congress, having an expanded oversight authority as defined in the Trade Act of 2002 (P.L. 107-210), will play a crucial role during this last phase of the FTAA negotiations. This report will be updated periodically.

Physical Description:

6 pages.

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Partner:
UNT Libraries Government Documents Department
Collection:
Congressional Research Service Reports
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Resource Type: Report
Format: Text
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Access: Public