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* United States – Central American Free Trade Agreement-Dominican Republic Free Trade Agreement (DR-CAFTA – Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, and the United States) Aimed at increasing trade and employment between the seven countries by reducing tariffs. DR-CAFTA represents another important step toward the ultimate goal of a free trade agreement encompassing all the Americas. * Mercosur (including Argentina, Bolivia, Brazil, Chile, Paraguay, and Uruguay) is the second-largest common-market agreement in the Americas after NAFTA. Since its inception, Mercosur has become the most influential and successful free trade area in South America. With the addition of Bolivia and Chile in 1996, Mercosur became a market of 220 million people with a combined GDP of nearly $1 trillion and is the third largest free trade area in the world. In addition, negotiations have been under way since 1999 for a free trade agreement between the EU and Mercosur, the first region-to-region free trade accord. Another ambitious agreement, the Latin American Free Trade Association (LAFTA), gave way to the Latin American Integration Association (LAIA or ALADI), with new rules of organization that revitalized that group. The success of the Caribbean Free Trade Association led to the creation of the Caribbean Community and Common Market. CARICOM member countries continue in their efforts to achieve true regional integration. Initially NAFTA was envisioned as the blueprint for a free trade area extending from Alaska to Argentina. The first new country to enter the NAFTA fold was to be Chile, then membership was to extend south until there was a Free Trade Area of the Americas (FTAA) by 2005. The question now is whether there will be an FTAA or whether there will be a tri-country NAFTA in the north and a South American Free Trade Area (SAFTA) led by Brazil and the other member states of Mercosur in the south. The answer to this question rests in part with
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