I appreciate very much the opportunity to share with you this historical moment for the Americas, a moment built on the decisions taken by you four years ago in Miami. Your decision to launch negotiations to create the Free Trade area of the Americas will certainly have profound implications not only for your countries but also for the entire world economy. There is no doubt that the FTAA project is a fundamental movement towards trade liberalization and increased prosperity for the American Hemisphere. There is another important aspect that flows from your debates. But at the same time you have raised your sights beyond the trade horizon and you look to other human, social and political issues which our citizens consider more and more essential in international cooperation.
History shows that, in many respects, regional trade initiatives have benefitted the world economy.
Experience in regional agreements has positively contributed to the development of multilateral trade rules, and for developing countries in particular, regional initiatives have been important stepping stones to liberalizing and expanding trade. The point is simply to ensure at every level that regional efforts complement not compete with, the multilateral system that is so important for the global economy. It is undeniable that the integration of the world economy and the new technologies are increasingly moving us toward a globalized and interdependent world. Our countries and our industries need global rules to prosper in global markets. It is also politically important because we have to know what kind of world we want to shape, taking into account the reality of global integration and technological advances.