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fDi Editor | 05/01/2005 12:00 am

Dreams of a free trade zone stretching from the Arctic Circle to Cape Horn seem to have been, if not completely dashed, then at least put on hold.

The Free Trade Area of the Americas (FTAA) – which was intended as a successor to the North American Free Trade Agreement (NAFTA) and arguably the most ambitious trade deal ever embarked upon – is a proposed agreement to eliminate or reduce trade barriers among all nations in the western hemisphere, except Cuba. Efforts towards the creation of the FTAA began at the Summit of the Americas in Miami in December 1994 and negotiations were formally launched in April 1998 in Santiago in April 1998.

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