World Trade Organization
FTAA Facts:
The FTAA consists of 34 membership countries. These countries together make up a population of 757 million people. Their Gross Domestic Product (GDP) is close to $US 8 Trillion with total trade around $US2.4 trillion.
Free Trade Area of The Americas.
(FTAA)
Goal of the FTAA:
to eliminate barriers to trade and investment among the countries of the Americas
.
FTAA Facts:
The FTAA consists of 34 membership countries. These countries together make up a population of 757 million people. Their Gross Domestic Product (GDP) is close to $US 8 Trillion with total trade around $US2.4 trillion.
Structure Of The Bahamas Negotiating Team
Negotiating Groups
Consultative Groups
Advantages Of Free Trade
v
Economic Progress
v
Sustainable Development
v
Increased Productive Investment
v
Job Opportunities
v
Enhanced Standard of Living
v
Improved Working Conditions
v
Globalization & Economic Integration
v
E-business/ E-commerce
The special policy concerns for the Bahamas are:
The impact of free trade on the existing tax structure;
Enactment of Legislative Reforms to comply with any proposed Agreements;
Terms under which foreign firms would be permitted to do business locally;
The Bahamas is a small island nation which is vulnerable to external shocks and will need a period of adjustment;
Positioning The Bahamas to take advantage of globalization.
Current Status of the FTAA
First Round of Discussions
CARICOM submissions and critical issues for member states
-Policy direction from Trade Ministers to Negotiators
-Greater Participation by Member States
-Coordination between FTAA and WTO
FTAA position on the Bahamas