FTAA (Free Trade Area of the Americas)

The Free Trade Area of the Americas (FTAA) was a proposed economic agreement aimed at reducing trade barriers across 34 countries in North, Central, and South America. Its goal was to facilitate easier movement of goods, services, and investments, promoting economic growth and cooperation among the nations. The idea was to create a large, integrated market similar to the European Union but encompassing the entire Western Hemisphere. However, negotiations faced challenges due to differing national interests and priorities, and the FTAA was effectively shelved in the late 2000s, though discussions on regional trade continue through other agreements.