Trading up.Although practically every nation in Latin America has signed bilateral free trade agreements with one or more countries in the region, the accords are not consistent and would therefore have to be renegotiated to fit unified 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 standards. A more feasible solution, most analysts say, is to link the region's top five trade pacts--NAFTA, Mercosur, the Andean Pact, the Central American Common Market Central American Common Market (CACM), trade organization envisioned by a 1960 treaty between Guatemala, Honduras, Nicaragua, and El Salvador. The treaty established (1961) a secretariat for Central American economic integration, which Costa Rica joined in 1963; and Caricom. A likely scenario would have the Andean Pact and Mercosur form a trade pact, while CACM CACM - Communications of the ACM and Caricom join 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 . The two mega-blocs would then in turn negotiate a free trade agreement. "When you look at FTAA, it really boils down to NAFTA and Mercosur," then-U.S. Commerce Undersecretary David Rothkopf told a gathering of business leaders in Miami last December. "If you can't reconcile differences between those two markets then it's all in vain."