What are the objectives of the FTAA?

The Free Trade Area of the Americas (FTAA) was a proposed trade agreement that aimed to establish a free trade area encompassing all countries in the Americas, except Cuba. The objectives of the FTAA were as follows:

1. Promote economic growth and development: The FTAA aimed to stimulate economic growth and development by eliminating trade barriers and creating a more open and competitive market for goods and services. This would lead to increased investment, job creation, and overall economic prosperity in the region.

2. Expand market access: The agreement sought to expand market access by reducing or eliminating tariffs, quotas, and other trade barriers among member countries. This would allow businesses to access larger markets, increase exports, and attract foreign investment.

3. Enhance regional integration: The FTAA aimed to strengthen regional integration by fostering closer economic ties and cooperation among member countries. This would promote greater economic stability, regional cooperation, and the sharing of best practices and knowledge.

4. Foster fair competition: The agreement sought to establish a level playing field by promoting fair competition among member countries. This would involve the enforcement of intellectual property rights, the elimination of discriminatory practices, and the establishment of transparent and predictable trade rules.

5. Encourage sustainable development: The FTAA aimed to promote sustainable development by incorporating environmental and labor standards into trade agreements. This would ensure that trade liberalization does not come at the expense of environmental protection or workers' rights.

6. Strengthen political and diplomatic ties: The agreement aimed to strengthen political and diplomatic ties among member countries by providing a platform for dialogue and cooperation on trade-related issues. This would contribute to greater regional stability and cooperation in other areas beyond trade.

It is important to note that the FTAA negotiations were officially suspended in 2005 due to disagreements among member countries. However, the objectives outlined above reflect the original goals and aspirations of the proposed agreement.