FTAA talks in Trinidad end in impasse

Monday, October 6, 2003

PORT OF SPAIN, Trinidad: First it was the World Trade Organization's Summit in Cancun that ended in impasse. Now it's the Free Trade Area of the Americas conference, which concluded over the weekend in Trinidad.

Reuters quoted Caribbean Community Chief Negotiator, Mr. Richard Bernal, as saying no decision was taken at the Trinidad meeting on the scope and schedule of the FTAA talks. 

"I don't think we should sacrifice a good agreement for the sake of adherence to any particular date," he said.

The impasse came after the United States and Brazil faced off over the scope of negotiations to create the world's largest free trade area by 1st January, 2005. 

Brazil has argued for a more focused accord while the United States wants a more ambitious and wide-ranging pact, according to Reuters. The United States is pushing for a single comprehensive agreement that would cut tariffs on manufactured and agricultural goods while strengthening rules governing services trade, investment, intellectual property protection and government procurement.

The two are hoping they reach a compromise in Miami next month. 

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