BUENOS AIRES (AP)--An Argentine official told local reporters Tuesday
that moves to create a Free Trade Area of the Americas, as promised by
2005, remain a long shot - lacking political momentum.
Eduardo Sigal, an undersecretary for economic integration in
Argentina's
Foreign Ministry, was quoted as saying the FTAA is "in a crisis" and
even "in the freezer."
Speaking with local reporters, Sigal said he didn't see the necessary
political momentum needed to achieve an FTAA that successive U.S.
administrations have sought to put in place by 2005.
"The Bush administration has elections coming up in November and
doesn't
want to risk anything," Sigal added.
But he said, meanwhile, that moves continue apace toward greater
integration of economies in the region.
Sigal's comments come as Argentine officials join their colleagues
from
the South American trade group Mercosur for a meeting in Brussels,
where
they are trying to conclude a trade deal with the European Union.
Mercosur comprises Brazil, Argentina, Uruguay and Paraguay. Chile,
Bolivia and Peru hold associate member status, while Mexico and
Venezuela are set to receive the same status at a later date.DOW JONES NEWSWIRES:
