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Creating A Prosperous Community Of The Americas

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Chapter Summary

The ambitious project to create a Free Trade Area of the Americas (FTAA) that once elicited so much enthusiasm among hemispheric governments is now moribund. The North America Free Trade Agreement (NAFTA) has had a direct impact on the energy sector by extending commitments made in the 1988 Canada-United States (U.S.) During the course of the FTAA negotiations, Caribbean Common Market and Community (CARICOM) emerged as a strong advocate of special and differential treatment to overcome perceived vulnerabilities arising from the particularly small size of the economies of many of its member states and susceptibility to natural disasters. Current regional economic integration projects throughout the Western Hemisphere provide a solid foundation upon which to rest the energy security pillar of the proposed Community of the Americas. The protection offered workers and the environment in most Latin American countries is found at both the national and regional level.

Keywords: Caribbean Common Market and Community (CARICOM); economic integration projects; FTAA; North America Free Trade Agreement (NAFTA); Western Hemisphere



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