A free trade area of the Americas in 2005?

Abstract

In the second presidential summit of the Americas, which took place in April 1998 in Santiago de Chile, 34 heads of states of the Americas announced that they were ready to start negotiating a Free Trade Area of the Americas (FTAA), to be concluded by 2005. This article briefly discusses the current trend in favour of regional preferential trade agreements, describes how the proposal for an FTAA came about, explores more than three years of negotiations that made it possible and assesses the probability of its success.