Free Trade Area of the Americas (FTAA)
The Free Trade Area of the Americas (FTAA), which was being negotiated by 34 countries of the Americas, was intended to be the most far-reaching trade agreement in history. Although it was based on the model of the North American Free Trade Agreement (NAFTA), it went far beyond NAFTA in its scope and power.
The FTAA would have introduced into the Western Hemisphere all the disciplines of the proposed services agreement of the World Trade Organization (WTO) - the General Agreement on Trade in Services (GATS) - with the powers of the failed Multilateral Agreement on Investment (MAI), to create a new trade powerhouse with sweeping new authority over the Americas.
The FTAA is currently in a long coma with no signs of life whatsoever for the past several years. In fact, at the latest Summit of the Americas in 2009, a function originally intended as the forum for FTAA negotiations, the FTAA was never mentioned a single time.
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