What is the Free Trade Area of the Americas (FTAA) and how did it start?
• The idea of the FTAA was conceived in 1994 at the inaugural Summit of the Americas meeting in Miami. Negotiations towards a hemisphere-wide free trade agreement were launched in 1998 at the Second Summit of the Americas. The 34 democratic countries of the hemisphere are participating in the negotiations. • The proposed FTAA is an integral part of the broader Summit of the Americas process, complementing such Summit objectives as strengthening democracy, promoting human rights and finding ways to address a range of social and economic issues through hemispheric co-operation. • The FTAA is perhaps the most visible element of the Summit process, but its principal objectives of growth and development through enhanced economic integration are ultimately intended to reinforce the Summit’s broader objectives. • Canada hosted the Third Summit of the Americas in Quebec City in April 2001, and continues to play a significant role in the broader Summit process.
