With the signing of the North American Free Trade Agreement (NAFTA)
and the U.S. proposal for the widening of NAFTA to include the
whole of the Western Hemisphere, there is now a greater mutuality
of interest between the U.S. and the rest of the hemisphere than at
any time in the recent past. Mexico, Canada, and the United States
continue to deepen and refine their understanding of the practical
implications of NAFTA. Latin American and Caribbean countries--most
now democracies--have altered their development philosophy, placing
greater stress on the workings of the market and opening their own
markets to import competition. North America and other hemispheric
subregions are seeking greater economic integration behind lowered
trade barriers. Under this new philosophy, what other countries of
the hemisphere most want is assurance of access to the markets of
each other and the United States. This common thinking is what
makes the present a most propitious moment for hemispheric
cooperation.
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