Preferential Trading Areas (PTA) in South America
Role & benefits of PTAs in trade liberalization, their influence on economic growth and regional trade pacts. Looks at issues of protectionism, debt crisis and global implications.
# 13399 | 3,375 words | 10 sources | 1999 |
Published on Jul 09, 2003 in Economics (International) , Latin-American Studies (Post-Modern (1960 on))
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From the Paper:" Trade liberalization in South America has been channeled largely into the creation of preferential trading areas (PTAs). These subregional trading arrangements are seen by the developing nations of the region as building blocks that will produce economic growth, encourage development, and eventually lead to the creation of a South American or Latin American free-trade area. Such steps are perceived as necessary preliminaries to entry into a global system of free markets or even into a hemispheric free-trade arrangement. Although the nations of South America have agreed in principle to the notion of a Free Trade Agreement for the Americas (FTAA), support is considerable for extensive deepening and expansion of subregional arrangements prior to undertaking the greater degree of liberalization that would be required by a NAFTA-like, hegemony-dominated, FTAA."
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Preferential Trading Areas (PTA) in South America (2003, July 09) Retrieved July 28, 2021, from https://www.academon.com/research-paper/preferential-trading-areas-pta-in-south-america-13399/
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