Ken Valley remains hopeful about FTAA

Only 29 of the 34 nations participating in the FTAA are supporting its establishment. Among the nations opposed to the FTAA are Brazil, Argentina, Venezuela, Paraguay and Uruguay.

Prime Minister Patrick Manning attended the Summit of the Americas and returned home Sunday from Argentina.

While indicating that the Prime Minister has not given him any specifics about the summit and particularly the FTAA, Valley told Newsday that he was not worried about TT’s bid to become the headquarters of the FTAA Secretariat being negatively impacted by developments out of Argentina.

Valley noted that even with a smaller pool of FTAA nations, TT still has a majority of those countries in its corner to become the site for the FTAA Secretariat. TT currently has the support of 18 of the 34 FTAA nations. "I continue to travel in hope," the minister said. Valley indicated that notwithstanding developments in Argentina, no decision could be taken about the FTAA until after the Sixth World Trade Organisation (WTO) Ministerial Conference in Hong Kong from December 13 - 15.

The purpose of the conference is to iron out a range of issues that will shape the final development of the Doha Development Agenda, which member nations hope to conclude by the end of 2006. Valley added that he remained confident that the FTAA would become a reality and that Brazil would be a part of the trading bloc, stretching from Alaska to Argentina.