Bhms: A jaundiced eye cast on FTAA

The inconclusive informal meeting by select FTAA vice Ministers in Buenos Aires, Argentina on Thursday and the announcement of yet another delay for the resumption of the 17th Meeting of The Negotiating Committee was seen by the Chair of the FTAA services group as signs that the proposed hemispheric trading bloc would not be concluded quickly.

Speaking on issues of trade involving The Bahamas at a one day forum jointly hosted by the Nassau Institute and the Atlas Economic Research Foundation, Hillary Deveaux who is also acting executive director of The Bahamas Securities Commission said that with the impending United States presidential election and the insistence by the MERCUSOR groups to deal with agriculture in FTAA, "it appears that we're not going to move very quickly."

Mr. Deveaux also said that the numerous free trade agreements the United States is currently signing with the various countries involved in the proposed FTAA was seen by some countries as having the potential to diminish the advantages that could be had with the signing of the hemispheric trade agreement.

"They feel that if the benefits are greater in the bi-laterals then most countries will not find a need to sign on to the FTAA," Mr. Deveaux said.