Angry protests have marred the Free Trade Area of Americas (FTAA) summit in Quito, Ecuador, as The Bahamas continues its process of negotiation and discussion towards the creation of the world's largest trading bloc.
International reports told of Ecuadorean protesters burning the American flag, and a photograph depicts a woman disguised as 'Death' marching in front of police during a protest against the FTAA summit.
Minister of Trade and Industry Leslie Miller will lead a high-level Bahamian delegation to the 7th Ministerial Meeting, which will be preceded by the 12th Trade and Negotiating Committee (TNC) Meeting.
The Bahamas has participated in this process since its inception in Miami 1994, when the leaders of democratic nations of the Western Hemisphere agreed to the progressive elimination of barriers to trade and investment by January 2005 or by the latest December 2005, with the view to create collective economic security and prosperity.
It is also expected that during the Meetings of the Trade Negotiating Committee (TNC) there will be submissions of progress reports by the nine negotiating groups and the three consultative committees of the FTAA, according to a statement from the Minister of Trade and Industry.
"The Bahamian negotiators have been closely monitoring the developments within these various groups and are prepared to represent the best interests of The Bahamas, as the Government continues its consultations with the Bahamian people to develop a strategic plan of action for an increasingly globalised world," the statement further noted.
The Quito FTAA Summit is being held, as the International Labour Conference on the Free Trade Area of the Americas came to a close. The week-long conclave was hosted by the Trade Union Congress, which enlisted the expertise of local and international presenters to educate the public on the ramifications of the FTAA for The Bahamas.
The Government has committed to public consultation before it makes any decision on the FTAA, as concerns abound about the possibility of free movement of labor and capital.
According to the U.S. Department of State, the FTAA is a priority for the United States, and it plays a key role in the U.S. strategy of pursuing trade liberalisation globally, regionally and bilaterally. First envisioned by President Ronald Reagan as a way to link the Americas in a hemispheric economic partnership, the FTAA negotiations are to be completed by January 2005, as agreed by President Bush and the 33 other Western Hemisphere leaders at the Quebec Summit in April 2001.
The ongoing World Trade Organisation (WTO) negotiations, launched in Doha, Qatar, in November 2001, are scheduled to be completed in the same time frame as the FTAA. In addition, the United States is working bilaterally to expand trade liberalisation.
Free trade negotiations are in the final phase with Chile and Singapore, and negotiations with Morocco and the five nations of Central America are to be launched soon. This strategy fosters a competition in trade liberalisation that enhances efforts to expand trade and investment and foster economic development and growth.
As host of the seventh ministerial in Quito, Ecuador has chaired the FTAA process since the sixth ministerial in Buenos Aires in April 2001. Prior to the Ministerial on November 1, the Trade Negotiations Committee (TNC), comprised of Vice-Ministers from all the countries, are meeting October 28-30 to prepare the relevant documents for the Ministerial.
There are nine negotiating groups in the FTAA process, each drafting a separate chapter of the agreement. These groups are: market access; investment; services; government procurement; dispute settlement; agriculture; intellectual property rights; subsidies, dumping, and countervailing duties; and, competition policy.
The 34 FTAA countries are: Antigua and Barbuda, Argentina, The Bahamas, Barbados, Belize, Bolivia, Brazil, Canada, Chile, Colombia, Costa Rica, Dominica, Dominican Republic, Ecuador, El Salvador, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru, St. Vincent and the Grenadines, St. Lucia, St. Kitts and Nevis, Suriname, Trinidad and Tobago, the United States of America, Uruguay, and Venezuela.
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