Leaders of Western Hemisphere countries have agreed to negotiate a Free Trade Area of the Americas (FTAA) agreement by 2005. FTAA’s objective is to promote economic growth and democracy by eliminating barriers to trade in all goods (including agricultural and food products) and services, and to facilitate investment. If diplomats reach agreement, free trade in the hemisphere could occur by 2020. Negotiations on FTAA’s agriculture component have become contentious. This report discusses the controversial aspects of FTAA, describes the advantages and disadvantages of FTAA, and discusses FTAA in relation to the existing North American Free Trade Agreement (NAFTA).