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Free Trade Area of the Americas: Status & Prospects

Free Trade Area of the Americas: Status & Prospects. Parr Rosson, Director Center for North American Studies Department of Agricultural Economics Texas A&M University. Overview. Background Progress Considerations for Agriculture. Background. Enterprise for the Americas Initiative Act

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Free Trade Area of the Americas: Status & Prospects

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  1. Free Trade Area of the Americas: Status & Prospects Parr Rosson, Director Center for North American Studies Department of Agricultural Economics Texas A&M University

  2. Overview • Background • Progress • Considerations for Agriculture

  3. Background • Enterprise for the Americas Initiative Act • Miami Ministerial-1994 • Negotiations Underway with Consideration of WTO • Regional Trade Arrangements: • NAFTA • MERCOSUR (Argentina, Brazil, Paraguay & Uruguay)

  4. Progress • Concept is to form a Free Trade Area of the Americas by 2006 • Negotiations Focused on Areas to be Addressed • Agriculture Negotiated Under NGAG & NGMA

  5. Progress • Development of Modalities • Starting Point • Magnitude of Reductions • Time Frame for Tariff Reductions • Lack of Trade Promotion Authority

  6. Considerations for Agriculture • Market Access: US Favors Coordinated Approach-Method of Determining Base Rates is Same for all Sectors • U.S. Wants to Eliminate All Export Subsidies w/in FTAA • Eliminate Exclusive Export Rights for State Traders

  7. Considerations for Agriculture • Ensure that SPS NOT Used as Arbitrary or Unjustified Trade Barriers • Other Trade Distorting Practices • Domestic Support: WTO • Price Stabilization (Price Bands) • Differential Export Taxes • Special & Differential Treatment/Safeguards

  8. Summary • Negotiations Proceeding with Target Date of Jan. 2005 for Completion & Jan. 2006 for Implementation • Modalities Now Being Developed • Most of Draft Text Still Bracketed

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