• 14:

We recognise the positive contribution of trade among our nations to the promotion of growth, employment and development. We will therefore continue to insist on an open, transparent and rules-based multilateral trading system. We further recognise the need for all our peoples to benefit from the increased opportunities and welfare gains that the multilateral trading system generates.

• 19:

Recognizing the contribution that economic integration can make to the achievement of the Summit objectives of creating jobs to fight poverty and strengthening democratic governance: A. Some member states maintain that we take into account the difficulties that the process of the Free Trade Area of the Americas (FTAA) negotiations has encountered, and we recognize the significant contribution that the processes of economic integration and trade liberalization in the Americas can and should make to the achievement of the Summit objectives to create jobs to fight poverty and strengthen democratic governance. Therefore, we remain committed to the achievement of a balanced and comprehensive FTAA Agreement that aims at expanding trade flows and, at the global level, trade free from subsidies and trade-distorting practices, with concrete and substantive benefits for all, taking into account the differences in the size and the levels of development of the participating economies and the special needs and special and differential treatment of the smaller and vulnerable economies. We will actively participate to ensure a significant outcome of the Doha Round that will reflect the measures and proposals mentioned in the previous paragraph. We shall continue to promote the established practices and activities in the FTAA process that provide transparency and encourage participation of civil society. We instruct our officials responsible for trade negotiations to resume their meetings, during 2006, to examine the difficulties in the FTAA process, in order to overcome them and advance the negotiations within the framework adopted in Miami in November 2003. We also instruct our representatives in the institutions of the Tripartite Committee to continue allocating the resources necessary to support the FTAA Administrative Secretariat. B. Other member states maintain that the necessary conditions are not yet in place for achieving a balanced and equitable free trade agreement with effective access to markets free from subsidies and trade-distorting practices, and that takes into account the needs and sensitivities of all partners, as well as the differences in the levels of development and size of the economies. In view of the above, we have agreed to explore both positions in light of the outcomes of the next World Trade Organization ministerial meeting. To that end, the Government of Colombia will undertake consultations with a view to a meeting of the officials responsible for trade negotiations.

• 51:

We will promote and support actions to facilitate the participation of small and medium-sized enterprises (SMEs) in domestic markets and international trade. We will support the SME Congress of the Americas and encourage wider participation in this initiative. We stress the importance of opening new markets for SME goods and services.

• 53:

We will foster the development of entrepreneurial skills and technical competence of SMEs, with the objective of facilitating their entry into new markets, aimed at strengthening SMEs and consequently increasing employment.

• 6:

We reaffirm our commitment to the Monterrey Consensus that each country has primary responsibility for its own economic and social development through sound policies, promotion of good governance at all levels and respect for the rule of law and that, at the same time, the international community should support national development efforts. In this context, we reiterate that trade and investment opportunities are necessary for countries in fighting poverty and in their development efforts. Also, in this context, we commit to coordinate international efforts in support of sustainable development policies, to identify secure sources of financing, and to mobilize resources for development and the fight against poverty and hunger.

• 30:

To promote training and technical and credit assistance services, and professional training, and to strengthen the development of business, technological, and management skills for micro, small, and medium-sized companies, facilitating their inclusion as local suppliers.

• 30:

To promote training and technical and credit assistance services, and professional training, and to strengthen the development of business, technological, and management skills for micro, small, and medium-sized companies, facilitating their inclusion as local suppliers.

• 31:

To create and/or strengthen, as appropriate, agencies specialized in development services, and improve the business climate for micro, small, and medium-sized companies facilitating access to markets, including foreign markets, by requesting from multilateral institutions technical, and financial assistance for the achievement of this goal.

• 38:

To develop a hemispheric virtual network for the exchange of business opportunities.

• 12:

We welcome the progress achieved to date toward the establishment of a Free Trade Area of the Americas (FTAA) and take note with satisfaction of the balanced results of the VIII Ministerial Meeting of the FTAA held in Miami in November 2003. We support the agreement of ministers on the framework and calendar adopted for concluding the negotiations for the FTAA in the established timetable, which will most effectively foster economic growth, the reduction of poverty, development, and integration through trade liberalization, contributing to the achievement of the broad Summit objectives*.

• 23:

We will promote consumer protection, fair competition, and the improved functioning of markets through clear, effective, and transparent regulatory frameworks.

• 14:

.We welcome the significant progress achieved to date toward the establishment of a Free Trade Area of the Americas (FTAA), including the development of a preliminary draft FTAA Agreement. As agreed at the Miami Summit, free trade, without subsidies or unfair practices, along with an increasing stream of productive investments and greater economic integration, will promote regional prosperity, thus enabling the raising of the standard of living, the improvement of working conditions of people in the Americas and better protection of the environment. The decision to make public the preliminary draft of the FTAA Agreement is a clear demonstration of our collective commitment to transparency and to increasing and sustained communication with civil society **.

• 15:

We direct our Ministers to ensure that negotiations of the FTAA Agreement are concluded no later than January 2005 and to seek its entry into force as soon as possible thereafter, but in any case, no later than December 2005. ** This will be a key element for generating the economic growth and prosperity in the Hemisphere that will contribute to the achievement of the broad Summit objectives. The Agreement should be balanced, comprehensive and consistent with World Trade Organization (WTO) rules and disciplines and should constitute a single undertaking. We attach great importance to the design of an Agreement that takes into account the differences in the size and levels of development of participating economies **.

• 103:

Ensure negotiations of the FTAA Agreement are concluded no later than January 2005 and seek its entry into force as soon as possible thereafter but, in any case, no later than December 2005, in conformity with the principles and objectives established in the San Jose Ministerial Declaration, in particular the achievement of a balanced, comprehensive agreement, consistent with WTO rules and disciplines, the results of which will constitute a single undertaking embodying the rights and obligations, as mutually agreed.

• 104:

Ensure the transparency of the negotiating process, including through publication of the preliminary draft FTAA Agreement in the four official languages as soon as possible and the dissemination of additional information on the progress of negotiations.

• 105:

Foster through their respective national dialogue mechanisms and through appropriate FTAA mechanisms, a process of increasing and sustained communication with civil society to ensure that it has a clear perception of the development of the FTAA negotiating process; invite civil society to continue to contribute to the FTAA process; and, to this end, develop a list of options that could include dissemination programs in smaller economies, which could be supported by the Tripartite Committee or other sources.

• 106:

Ensure full participation of all our countries in the FTAA, taking into consideration the differences in the levels of development and size of the economies of the Hemisphere, in order to create opportunities for the full participation of the smaller economies and to increase their level of development.

• 107:

Supervise and support, with technical assistance, the full implementation of adopted business facilitation measures.

• 108:

Instruct our representatives in the institutions of the Tripartite Committee to continue securing the allocation of the resources necessary to contribute to the support of the work of the FTAA Administrative Secretariat.

• 109:

Urge the Tripartite Committee institutions to continue to respond positively to requests for technical support from FTAA entities; and request the institutions, according to their respective internal procedures, to favorably consider requests for technical assistance related to FTAA issues from member countries, in particular from the smaller economies, in order to facilitate their integration into the FTAA process.

• 110:

Welcome and support the work of our Ministers of Finance, who met in Toronto, Canada on April 3-4, 2001, to promote financial and economic stability as well as strong and sustainable growth, as fundamental preconditions for accelerated development and poverty reduction, and to ensure that the benefits of globalization are broadly and equitably distributed to all our people.

• 111:

Recognize the value of efforts undertaken to advance Hemispheric integration, including improved access to goods, services, capital and technology, to achieve the full range of social and other objectives.

• 112:

Support the efforts of Finance Ministers to address the challenges associated with globalization, to protect the most vulnerable and prevent crises, and affirm the importance of having the benefits of globalization widely distributed to all regions and social sectors of our countries, recognizing, at the same time, the unique challenges faced by small states.

• 114:

Instruct our Finance Ministers to continue to explore ways to ensure that international financial institutions, regional development banks and other international bodies take adequate account of Summit initiatives in their lending policies and technical assistance programs for the Hemisphere.

• 184:

Design and implement, with the cooperation of the IDB, the World Bank, other donors, as appropriate, as well as the ILO, building upon the work begun in regional and sub regional programs after the 1998 Santiago Summit of the Americas, legislation, policies and regulations that reduce startup costs, support the creation of new financial products for lower income groups and youth, foster the development of credit unions, community finance institutions and supporting institutions such as credit bureaus and create conditions that encourage commercial banks and other appropriate financial institutions to broaden their client base to include more micro, small and medium sized enterprises and strengthen the capacities of micro, small and medium sized enterprise development agencies.

• 186:

Support and encourage, with the cooperation of the IDB and other donors as appropriate, the formation of business incubators, associative networks, joint projects, national competitiveness programs, credit unions and complementary agreements among micro, small and medium sized enterprises as part of a broader strategy allowing them to share best practices, to improve access to information, credit and adequate marketing systems and to break prevailing situations of isolation.

• 189:

Promote, in cooperation with the CIM, IICA, other appropriate inter American institutions and the World Bank , improved market access for disadvantaged entrepreneurs, particularly women, youth, persons with disabilities, indigenous and rural populations , by developing programs that generate local employment and provide training, retraining and life long learning , particularly in new technologies , and affordable services in business management, product development, financing, production and quality control, marketing and the legal aspects of business; by establishing outreach programs to inform low income and poor populations, particularly in rural and remote areas, of opportunities for market and technology access and by providing assistance, monitoring, mentoring , advisory and other support services to enable these groups to take advantage of such opportunities.

• 10:

The FTAA negotiating process will be transparent, and take into account the differences in the levels of development and size of the economies in the Americas, in order to create the opportunities for the full participation by all countries. We encourage all segments of civil society to participate in and contribute to the process in a constructive manner, through our respective mechanisms of dialogue and consultation and by presenting their views through the mechanism created in the FTAA negotiating process. We believe that economic integration, investment, and free trade are key factors for raising standards of living, improving the working conditions of the people of the Americas and better protecting the environment. These issues will be taken into account as we proceed with the economic integration process in the Americas.

• 3:

Since our meeting in Miami, we have seen real economic benefits in the Americas resulting from more open trade, transparency in economic regulations, sound, market-based economic policies, as well as efforts by the private sector to increase its competitiveness. Even as countries in our region have been tested by financial and other economic pressures, and as countries in other regions have experienced serious economic setbacks, the overall course in the Americas has been one of faster economic growth, lower inflation, expanded opportunities, and confidence in facing the global marketplace. A major reason for this positive record has been our countries´ steadfast and cooperative efforts to promote prosperity through increased economic integration and more open economies. New partnerships have been formed and existing ones strengthened and expanded. A positive role is being played by sub-regional and bilateral integration and free trade agreements. We are confident that the Free Trade Area of the Americas (FTAA) will improve the well-being of all our people, including economically disadvantaged populations within our respective countries.

• 8:

Today, we direct our Ministers Responsible for Trade to begin negotiations for the FTAA, in accordance with the March 1998 Ministerial Declaration of San José. We reaffirm our determination to conclude the negotiation of the FTAA no later than 2005, and to make concrete progress by the end of the century. The FTAA agreement will be balanced, comprehensive, WTO-consistent and constitute a single undertaking.

• 9:

We note with satisfaction the preparatory work by the Ministers Responsible for Trade over the past three years which has strengthened our trade policies, fostered understanding of our economic objectives and facilitated dialogue among all participating countries. We appreciate the significant contribution of the Inter-American Development Bank (IDB), the Organization of American States (OAS), and the United Nations Economic Commission for Latin America and the Caribbean (ECLAC), acting as the Tripartite Committee.

• 101:

We instruct our Ministers Responsible for Trade to take the following actions: 1. Initiate the negotiations for the Free Trade Area of the Americas (FTAA), in accordance with the principles, objectives, structure, modalities and all other decisions as set out in the San José Ministerial Declaration, by convening the Trade Negotiations Committee no later than June 30, 1998, and the Negotiating Groups no later than September 30, 1998. 2. Exercise the ultimate oversight and management of the negotiations.3. Achieve concrete progress in the negotiations by the year 2000 and agree on specific business facilitation measures to be adopted before the end of the century. 4. Ensure that the negotiating process is transparent and takes into account the differences in the levels of development and size of the economies in the Americas, in order to create opportunities for the full participation of all countries, including the smaller economies. 5. Conduct the negotiations in such a manner as to build broad public understanding of and support for the FTAA, and to consider views on trade matters from different sectors of our civil societies, such as business, labor, consumer, environmental and academic groups, presented to the committee of Government representatives established at the Fourth Meeting of Trade Ministers in Costa Rica.

• 102:

We instruct our Representatives in the institutions of the Tripartite Committee, in particular the Inter-American Development Bank (IDB), to allocate appropriate existing resources within those institutions to support the Administrative Secretariat for the FTAA negotiations.

• 103:

We urge the Tripartite Committee to continue to respond positively to requests for technical support from FTAA entities. We ask the three institutions to consider requests for technical assistance related to FTAA issues from member countries -in particular from the smaller economies in order to facilitate their integration to the FTAA process- according to their respective procedures.

• 104:

In addition to initiating the negotiations for the FTAA, we have defined a series of further actions which must be consistent with the FTAA negotiation, aimed at deepening the process of economic integration, as well as to create opportunities for the full participation of all countries, including the smaller economies. We have prepared a series of proposals to advance the modernization of financial markets, programs of science and technology, energy cooperation, and hemispheric infrastructure, in particular in the fields of transportation and telecommunications.

• 105:

Strengthen banking supervision in the Hemisphere through: implementation of the Basle Core Principles for Effective Banking Supervision; training programs to strengthen supervisory capacity; and establishment of sound, high-quality reporting and disclosure standards for banks, and creation of a Working Group to assist countries in this process.

• 106:

Improve banking and securities market clearance and settlement systems in the Hemisphere, in order to facilitate the transparency, efficiency and security of internal and cross-border transactions.

• 112:

Promote policies and processes that facilitate the trade of products, goods and services related to the energy sector.

• 137:

Simplify and expedite the procedures for registration, obtaining licenses, complying with labor and tax regulations, and the formalization, where appropriate, of micro, small and medium size enterprises.

• 138:

Support private-sector providers of non-financial services to enable them to expand access to new technologies and training for micro, small and medium size enterprises, which will permit them to enhance their competitiveness in national and global markets.

• 139:

Promote partnerships of micro, small, and medium size enterprises to allow them to take advantage of cooperative assistance in doing business and in modernizing business management.

• 141:

Design national plans for the achievement of the actions previously defined and convoke a regional meeting of ministers or senior officials responsible for public policies to support micro, small and medium size enterprises, for the purpose of exchanging information on those plans and thus improving the effectiveness of support policies. To this end, the IDB, in cooperation with ECLAC, will be asked to provide coordination for this meeting.

• 35:

Initiative Request the Inter-American Development Bank (IDB) to work with sub regional financial institutions on the establishment of a support system for micro-credit institutions in order to promote technological innovation, improve the environment, and provide governments with technical assistance for strengthening financial services geared toward small business and micro-enterprise.

• 11:

We, therefore, resolve to begin immediately to construct the "Free Trade Area of the Americas" (FTAA), in which barriers to trade and investment will be progressively eliminated. We further resolve to conclude the negotiation of the "Free Trade Area of the Americas" no later than 2005, and agree that concrete progress toward the attainment of this objective will be made by the end of this century. We recognize the progress that already has been realized through the unilateral undertakings of each of our nations and the subregional trade arrangements in our Hemisphere. We will build on existing subregional and bilateral arrangements in order to broaden and deepen hemispheric economic integration and to bring the agreements together.

• 15:

We recognize that economic integration and the creation of a free trade area will be complex endeavors, particularly in view of the wide differences in the levels of development and size of economies existing in our Hemisphere. We will remain cognizant of these differences as we work toward economic integration in the Hemisphere. We look to our own resources, ingenuity, and individual capacities as well as to the international community to help us achieve our goals.

• 10.1:

The availability of capital at competitive rates is essential to finance private sector investment--a vital ingredient in economic development. Developing, liberalizing and integrating financial markets domestically and internationally, increasing transparency, and establishing sound, comparable supervision and regulation of banking and securities markets will help to reduce the cost of capital by enhancing investor and depositor confidence.

• 10.2:

Form a Committee on Hemispheric Financial Issues to examine steps to promote the liberalization of capital movements and the progressive integration of capital markets, including, if deemed appropriate, the negotiation of common guidelines on capital movements that would provide for their progressive liberalization.

• 10.3:

Prepare, in cooperation with the Inter-American Development Bank, a comprehensive list of national capital regulations in order to promote transparency and support the discussions in the Committee on Hemispheric Financial Issues.

• 10.4:

Support the cooperative endeavors of the Association of Latin American and Caribbean Bank Supervisors and the Council of Securities Regulators of the Americas to provide sound supervision and regulation that support the development and progressive integration of markets. The Committee on Hemispheric Financial Issues should also review problems of debt in the Hemisphere, taking account of ongoing work and drawing, as appropriate, on a broad range of expertise.

• 12.1:

The nations of the Hemisphere have begun a new era of economic growth. This new era is based on greater economic cooperation, freer trade, and open markets. Sustainable economic development requires hemispheric cooperation in the field of energy.

• 15.1:

Tourism is important to our economies and valuable in promoting understanding among the people of the Americas.

• 15.2:

Undertake initiatives to stimulate tourism in the Hemisphere.

• 19.1:

Microenterprises and small businesses account for a large percentage of the employment of the poor, particularly women, and contribute a considerable percentage of the gross domestic product of our countries. Strengthened support for microenterprises and small businesses is a key component of sustainable and equitable development.

• 19.3:

Increase efforts to enable enterprises to obtain information on appropriate technologies (especially those that are environmentally sound), markets, processes, raw materials and management systems that will permit them to be more competitive in the global economy.

• 19.4:

Develop programs of financial deregulation to reduce costs in credit transactions and strengthen the institutional capacity of the financial sector servicing microenterprises and small businesses, and encourage the active participation by multilateral and bilateral agencies, development banks, commercial banks and other intermediary credit organizations, consistent with strict performance standards.

• 19.5:

Strengthen the institutions and programs that supply services and facilitate access to training and technical assistance to make possible this sector's participation in the global economy through export of its products and services.

• 19.6:

Encourage cooperation among businesses in this sector to enable them to benefit from the advantages of economies of scale without losing their distinctive characteristics.

• 19.7:

Promote the strengthening of relations among the public, private and mixed (public/private) institutions that support the microenterprise and small business sector through programs of information, training, technical assistance, financing and association-building, enabling this sector to thrive over the long term.

• 19.8:

Recommend to the multilateral development organizations, especially the World Bank and the IDB, the establishment or fortification of funds and other mechanisms to support microenterprises and small businesses.

• 9.1:

While pursuing economic integration and free trade in the Hemisphere, we reinforce our strong commitment to multilateral rules and disciplines. We endorse full and rapid implementation of the Uruguay Round, active multilateral negotiations in the World Trade Organization, bilateral and sub regional trade agreements, and other trade arrangements that are consistent with the provisions of the GATT/WTO and that do not raise barriers to other nations.

• 9.2:

Extraordinary achievements have been made by countries of the Hemisphere in trade liberalization and sub regional integration. Free trade and increased economic integration are key factors for sustainable development. This will be furthered as we strive to make our trade liberalization and environmental policies mutually supportive, taking into account efforts undertaken by the GATT/WTO and other international organizations. As economic integration in the Hemisphere proceeds, we will further secure the observance and promotion of worker rights, as defined by appropriate international conventions. We will avoid disguised restrictions on trade, in accordance with the GATT/WTO and other international obligations.

• 9.3:

We will strive to maximize market openness through high levels of discipline as we build upon existing agreements in the Hemisphere. We also will strive for balanced and comprehensive agreements, including among others: tariffs and non-tariff barriers affecting trade in goods and services; agriculture; subsidies; investment; intellectual property rights; government procurement; technical barriers to trade; safeguards; rules of origin; antidumping and countervailing duties; sanitary and phytosanitary standards and procedures; dispute resolution; and competition policy.

• 9.4:

We recognize that decisions on trade agreements remain a sovereign right of each nation. In addition, recognizing the importance of effective enforcement of international commitments, each nation will take the necessary action, in accordance with its own legislation and procedures, to implement the agreements in the areas covered by this Plan of Action.

• 9.5:

As we work to achieve the "Free Trade Area of the Americas," opportunities such as technical assistance will be provided to facilitate the integration of the smaller economies and increase their level of development. Immediate Action Agenda We direct our ministers responsible for trade to take the following concrete initial steps to achieve the "Free Trade Area of the Americas."

• 9.6:

With the objective of ensuring full and complete discussion among the parties to the various trade agreements in the Hemisphere, we direct that meetings be held under existing trade and investment fora. Members of these fora will determine areas of commonality and divergence in the particular agreements under review and should consider the means of improving disciplines among them and bringing them together. We further direct that members of these fora inform ministers of the status of their discussions and make recommendations for achieving the "Free Trade Area of the Americas."

• 9.7:

Transparency in, and a clear understanding of, the subregional and bilateral agreements achieved to date among the nations in the Hemisphere are critical for advancing trade and investment integration in the Americas. We will direct the OAS Special Committee on Trade, with the support of the IDB, ECLAC, and other specialized regional and subregional organizations, to assist in the systematization of data in the region and to continue its work on studying economic integration arrangements in the Hemisphere, including brief comparative descriptions of the obligations in each of the Hemisphere's existing trade agreements. We will further direct the Special Committee on Trade to prepare a report of its work by June 1995 for the meeting of ministers.

• 9.8:

We direct our ministers responsible for trade to: (a) review the progress of work undertaken in the fora noted in paragraphs 6 and 7; (b) provide guidance with respect to further work; and (c) consider areas for immediate attention--such as customs facilitation and product testing and certification with a view to mutual recognition agreements--that could be taken up in the appropriate fora.

• 9.9:

Therefore, today we launch the "Free Trade Area of the Americas" by initiating the following process. We will direct the OAS to assist the host country in arranging the ministerial meetings. January 1995 Initiation of work programs and establishment of schedules in the fora in paragraph 6 and in the Special Committee on Trade. June 1995 Meeting of Ministers responsible for trade. -- preliminary report on status of work in the for a described in paragraph 6. -- preliminary Special Committee on Trade report. -- areas for immediate consideration. March 1996 Meeting of Ministers responsible for trade. -- final report to ministers by the Special Committee on Trade. -- final reports to ministers from the fora described in paragraph 6. -- timetable for further work.