Americas Regionalism

This third contribution to the seco/WTI workshop on regionalism addresses the Regional Trade Agreements (RTAs) that have and are shaping in the Western Hemisphere. First, it provides and introduction of the countries in the region, emphasising the diversities and proliferating RTAs, and offers an overview of the economic conditions and trade relations of the Americas. Second, it discusses the factors underlying the recent regional integration efforts, both locally and globally, giving particular attention to the Free Trade Area of the Americas (FTAA) process. Third, it scans the content of the main regional agreements to the date, identifying both their shortcomings and future challenges. Fourth, the paper focuses on a particular aspect of the quot;new regionalismquot;, namely investment, drawing special attention to its inclusion in the FTAA, and the possible implications for the members, based on the evidence and past experience in the region. Subsequently, the study points to the successful Chilean experience of unilateral trade liberalization, as an alternative to regionalism. Finally, a possible strategy for benefiting from the opportunities the FTAA may offer is presented for Switzerland. The paper concludes making general observations on the main shortcomings and challenges of the region, in the light of the FTAA process