Free Trade Agreement of the Americas. What is it? Current Status. Obstacles to passage.

Free Trade Agreement of the Americas The Free Trade Agreement of the Americas (FTAA) is a trade agreement currently in the process of being negotiated between every country in the Americas, except Cuba. It is essentially an expansion of the North American Free Trade Agreement (NAFTA) to encompass the Western Hemisphere. The FTAA was formally launched at the First Summit of the Americas, held in Miami in December 1994. At the beginning of that year, the …

…rules, negotiating market access concessions, achieving consensus on the negotiated outcomes, dealing with changing political and economic conditions as the negotiations unfold, and summoning the political will to conclude an agreement. The FTAA can be successfully concluded if the key Western Hemisphere leaders demonstrate that they have the political will to conclude the agreement. The ultimate success or failure of the FTAA will rest on the continued demonstration of political commitment to the negotiation's conclusion.