Baby steps.BABY STEPS Despite all the media hype and debates, there is still some confusion about what the Miami Summit actually agreed on. Many Brazilians, for example, believe the Miami Summit agreed to have an FTAA FTAA Free Trade Area of the Americas FTAA Free Trade Agreement of the Americas FTAA Florida Turkish American Association FTAA Federated Tanners Association of Australia FTAA Fixed Threshold Adaptation Algorithm in place as of January 1, 2005. However, the summit pledged only to start creating the FTAA by 2005. The FTAA is expected to follow NAFTA's example of transition periods rather than Mercosur's full implementation schedule." Many people say that NAFTA NAFTA in full North American Free Trade Agreement Trade pact signed by Canada, the U.S., and Mexico in 1992, which took effect in 1994. Inspired by the success of the European Community in reducing trade barriers among its members, NAFTA created the world's has been realized, but it will only be realized at the end of 15 years," says Siegfried Marks, a former chief Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. economist for Exxon. "That's 12 years from now before all duties are to be removed and you really have free trade." FTAA will likely also give smaller countries longer transition times than larger countries--a trend already followed by subregional pacts like the Andean Pact Andean Pact A regional trade pact that includes Venezuela, Colombia, Ecuador, Peru, and Bolivia. . |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion