From Miami to Cartagena: nine lessons and nine challenges of the FTAA

In Miami in December 1994 the heads of State of 34 countries of the hemisphere decided to construct a Free Trade Area of the Americas (FTAA) by the year 2005. The initiative was backed by an ambitious Plan of Action which gained further definition in declarations of the trade ministers in follow up meetings held in Denver and Cartagena. Putting the FTAA project in perspective, this study concludes that while it is still in its initial stages of preparation for negotiations and not free of problems, the FTAA process has been successful to date. As this process deepens and passes into the negotiation and implementation stages, serious challenges will emerge, nine of which are identified in this paper. (Rev Econ Polit/DÜI)