Free Trade Area of the Americas was to begin operations in 2005, but the full agreement has not been reached so far. The main reason for this is the resistance that showed the Latin American countries. South and Central American countries had concerns about several issues.
The first is the provision concerning the privatization and deregulation of basic public services. FTAA opponents fear that they will reduce the impact of state services in health, education and energy. Citizens of Latin American countries also fear that, due to the full liberalization of trade and law regulating it, these countries will lose control over the activities of multinational corporations. Another reason for the reluctance to FTAA is the possibility of free circulation of genetically modified food and the dependence of agriculture from seed supplied from North America. Moreover, the introduction of the provisions of the FTAA would lead to changes in the protection of intellectual property, which, according to Latin American countries, could hamper an access of poor citizens to cheap medicines. Among other concerns regarding the Free Trade Area of the Americas, Latin American countries also mention the lack of control over the flow of capital and deepening social inequalities.
Discussions about FTAA provisions of the agreement are still going on . These negotiations are intended to resolve disputes and establish principles of cooperation that will be acceptable to all American countries.