Venezuela: Chavez says FTAA is dead
UPI | July 6, 2005
Venezuela President Hugo Chavez has declared that the U.S.-proposed hemispheric trade bloc is dead and should be "buried."
"The proposal that the United States first made 10 years ago is absolutely impractical," said Chavez referring to the Free Trade Area of the Americas, or FTAA.
The FTAA would create a 34-nation free trade bloc similar to NAFTA encompassing every country in the western hemisphere except for Cuba.
However talks on the FTAA has been hampered by disagreements from Venezuela and other Latin America countries regarding existing U.S. subsidies and restricted access to U.S. markets.
"Thank god the FTAA is dead," the Venezuelan leader said. "We should bury it."