Economic and integration in the Western Hemisphere

Abstract

The purpose of the conference was to provide a better understanding of the hurdles to and likely impacts of trade agreements among Western Hemisphere countries. From a historical perspective, countries in the hemisphere are engaging in massive realigments of their trade regimes as evidenced by the Uruguay Round Agreement, the conclusion of the North American Free Trae Agreement and, importantly, the fundamental economic reforms undertaken by many Latin American countries. Many countries in the region view economic integration as an important step towards global competition, and a priority within the framework of market-oriented reforms. Most of the conference papers focus on agriculture since it is an imported traded goods sector in most of these economies, and since agriculture was a major hurdle to concluding the Uruguay Round and NAFTA. The proceedings are timely as they respond to the December 1994 Summit of the Americas with its commitment to construct the Free Trade Area of the Americas, by the yera 2005, and to the creation of the World Trade Organization which will play an important role in trade negotiations and disputes.