Source: CCTV.com

04-19-2009 11:45

The Summit of the Americas was created in 1994 to discuss the creation of an American free trade zone.34 American countries reached an agreement to begin negotiations on the free trade zone. Cuba was not present.

The Summit of the Americas was created in  1994 to discuss the creation of an American free trade zone.

Due to the differences between the US and Brazil and Argentina, negotiations were suspended in 2003.

In November 2005, at the fourth Summit, US President George W. Bush called for re-opening negotiations. But leaders from North and South America remained at odds.

From 2003 to 2007, the countries in the Western Hemisphere saw rather good economic growth with GDP growth per capita posted at 3 percent. But due to the financial crisis, this year's growth is expected to fall to a negative 0.3 percent.

HISTORY OF SUMMIT OF THE AMERICAS

1994 1st Summit of the Americas

Discussions on creating an American free trade zone

2003 Negotiations are suspended

2005 4th Summit of the Americas

Attempts to revive free trade zone negotiations fail

Editor:Qin Yongjing