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. A year later, the third draft is expected at the eighth trade ministerial scheduled for November 17-21, 2003 in Miami. Although implementing legislation is not anticipated until the next Congress, for an FTAA to be signed in January 2005, the 108th Congress will play a crucial role during this last phase of the negotiations given its expanded consultative and oversight authority as defined in the Trade Promotion Authority (TPA) provisions of the Trade Act of 2002 (P.L. 107-210). This report will be updated periodically.

Creator(s):
Location(s):
Creation Date: May 14, 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: May 14, 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. A year later, the third draft is expected at the eighth trade ministerial scheduled for November 17-21, 2003 in Miami. Although implementing legislation is not anticipated until the next Congress, for an FTAA to be signed in January 2005, the 108th Congress will play a crucial role during this last phase of the negotiations given its expanded consultative and oversight authority as defined in the Trade Promotion Authority (TPA) provisions of the Trade Act of 2002 (P.L. 107-210). This report will be updated periodically.

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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