The Free Trade Area of the Americas (FTAA) is a proposed arrangement or understanding to dismantle the trade barriers among all countries of the Americas. In November 2003 trade ministers from 34 countries met at Miami, Florida, USA, in the latest round of talks to deliberate on the issues for consideration. The proposed agreement is an attempt to expand the North American Free Trade Agreement (NAFTA) by and between Canada, Mexico and the United States to every country in Central America, South America and the Caribbean, except Cuba.
Negotiations broke down over the issue of expansion of international trade in services and increased intellectual property rights on which developed countries led by the USA were insisting. On the other hand, the developing nations led by Brazil sought for free trade in agricultural goods through end of agricultural subsidies and demanded effective or meaningful market access in advanced countries like USA or Canada.
The USA was trying to include stipulations for Digital Millennium Copyright Act-style s copyright protections, similar to the U.S.-Australia Free Trade Agreement, which did not find favor with the developing countries. Moreover, the US agenda for genetic patenting of plant, animal as well as seed forms is another bone of contention with the developing countries.
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