1、1 The data used in this report are from the U.S. Department of Commerce, the World Bank, theOffice of the U.S. Trade Representative, and the Inter-American Development Bank.Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS WebOrder Code 96-541 FUpd
2、ated June 24, 2002Western Hemisphere Trade Developments-name redacted-Specialist in Trade RelationsForeign Affairs, Defense, and Trade DivisionSummaryThe countries of the Western Hemisphere constitute the largest regional market forU.S. exports and the second largest regional market for U.S. foreign
3、 direct investments.The growing importance of this region to U.S. economic interests has beencomplemented by the growth of sub-regional integration initiatives such as the NorthAmerican Free Trade Agreement (NAFTA), Mercosur, the Andean Community, theCentral American Common Market, and Caribbean Com
4、munity. These groupings havenot only established free trade areas and in some cases customs unions among partnercountries, but are also expanding trade and investment ties with other countries andregions in the hemisphere, as well as more tentatively with the European Union.Concurrent with the deepe
