Venezuelan government to propose 10 year FTAA delay

www.vheadline.com Posted: Thursday, February 20, 2003 By: Robert Rudnicki

The Venezuelan government is set to propose the delaying of the Free Trade Agreement of the Americas (FTAA) by around ten years, despite it being scheduled to commence in 2005, according to deputy Production & Commerce  (MPC) Minister Victor Alvarez. 

• The reason for the delay is said to be due to the differences in the asymmetries of countries in the American continent. 

Although the Andean Community, of which Venezuela is part, agreed to 85% of the topics in the initial agreement, the Venezuelan government has decided to call for a presidential committee to advise the government on the integration process being championed by the United States ... Venezuela is also expected to suggest a compensation fund, with the US being the main contributor as it has the highest GDP.