"The Free Trade Area of the Americas (FTAA) is a free trade agreement that is currently being negotiated among 34 economies in the Western Hemisphere. Representatives from North America, the Caribbean, Central America and South America are working to achieve the largest regional integration ever between developed and developing countries, with the goal of liberalizing trade and investment in goods and services by the year 2005. There is speculation that negotiations will be completed as early as 2004."