Buenos Aires Ministerial Declaration

1. We, the Ministers Responsible for Trade in the Hemisphere, representing the 34 countries participating in the negotiations of the Free Trade Area of the Americas, held our Sixth Ministerial Meeting in Buenos Aires, Argentina, on April 7th, 2001.2. We take note of the significant progress made in the negotiations of the FTAA under the Chair of the Argentine Republic in this, the second eighteen-month stage of negotiations.We reaffirm the principles and objectives that have guided our work since the First Summit of the Americas, in particular, the basic principle of consensus in decision making within the FTAA process and the achievement of a balanced, comprehensive agreement that is consistent with the rules and disciplines of the World Trade Organization.We reaffirm that the result of the FTAA negotiations shall constitute a comprehensive single undertaking, that incorporates the rights and obligations that are mutually agreed for all member countries.We reiterate that the FTAA can coexist with bilateral and sub-regional agreements, to the extent that the rights and obligations under these agreements are not covered by or go beyond the rights and obligations of the FTAA.In light of the progress achieved in the course of the negotiating process, we recommend to the Leaders, at the Third Summit of the Americas, that they direct us to ensure 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, 2005.3. We believe in the importance of trade liberalization, both globally and regionally, in generating economic growth and prosperity in the Hemisphere.In this connection, we consider important the strengthening of the ongoing trade integration processes within our Hemisphere, which can facilitate the achievement of full Hemispheric integration.We reaffirm our commitment to a more open and balanced global trading system and believe that the FTAA negotiations will facilitate the achievement of this objective.Consequently, we reiterate our commitment to avoid, to the extent possible, adopting policies or measures that may adversely affect regional trade and investment and to avoid imposing further barriers to countries outside the Hemisphere.4. At the Third Summit of the Americas, to be held in Quebec City, from April 20-22, 2001, our Heads of State and Government will review the progress we have made together both in addressing the challenges highlighted at the previous Summits of the Americas and in identifying new priorities for hemispheric action.We recognize the significant contribution that economic integration, principally through the FTAA, will make to the attainment of the broader objectives in the Summit of the Americas process, including strengthening democracy, creating prosperity and realizing human potential.We reiterate that the

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