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Vanuko-Istalian Agreement on Free Trade and Economic Cooperation
This treaty was drafted in November 4335 by the Partito Nazionale Democratico.
Status: ratification[?]
Description[?]
| Article 1: Market Access Retail goods to Istalian non-corporate consumers from Vanuku and vice-versa shall receive a duty of 0%. Article 2: Economic Cooperation Each party agrees to promote mutual economic and social cooperation in support of the economic integration of the parties and the economic and social development of the parties. Article 3: Double Taxation With further bilateral agreements, the parties agree to work towards the prevention of double taxation. Article 4: Trade Promotion The contracting nations pledge to establish trade promotion programmes, facilitate private and public trade missions and promote the continuous exchange of information, market studies and activities leading to the maximum utilisation of opportunities offered by the liberalisation of trade. Article 5: Investment The parties agree to promote, protect and facilitate investment between each other through the development and implementation of an agreement on the asymmetrical promotion and protection of investments. Article 6: Products of Trade Any material with origin from either signatory nations shall be considered originating regardless of the material and its production origins. These include fuel, electrical energy, gloves, protective eye masks, footwear, apparel, security and military equipment and accessories, spare parts, lubricants, oils any other equipment apart of the groups above. Article 7: Compensation for Losses The contracting nations whose investments are lost to nationalisation or other such state confiscation not ordered by a duly constituted court of law in pursuance of criminal prosecution made by a due process of law are obligated to file a Compensation Request with the Ministry of Foreign Affairs and the Ministry of Trade and Industry of the confiscating nation. The confiscating nation is obligated to compensate all loss of assets, intrinsic value, and goodwill. Article 8: Trade in Finances The parties recognise the important role of trade financing in the development/fostering of trade. The parties agree to encourage banks and other financial institutions engaged in foreign trade to increase their support to exporters/importers in the respective territories of the parties. The support mentioned shall include the establishment of lines of credit, the establishment of export credit insurance, the establishment of a joint finance committee with the aims of reviewing the competitiveness of credit terms and financial cooperation. Article 9: Recognizing the crucial role which the nation's respective Panmajatran organizations play in the regional organization of the continent (Majatran Alliance and Union of Jelbic People), both signatory nations agree to promote the development and growth of trade and economic cooperation between the international regional organizations in Majatra to which they belong, promoting in front of the leadership of the aforementioned organization measures aimed at breaking down the barriers to free trade and to the integration of the continental economy. Article 10: Ratification All long as Wrnukaék Konzknstat (Vanuku) and/or the Repubblica Istaliana (Istalia) have not withdrawn from the treaty after ratification, this treaty shall remain in effect. A contracting nation must give 1 year notice to the other nation before withdrawing from the treaty. Notice should be communicated to the other nation's Head of State, Head of Government, and Minister of Foreign Affairs. If notice is not given, companies operating in the withdrawing nation may continue operating as if the treaty remains in force and are not obligated to adhere to any contrary policies. |
Articles[?]
The treaty consists of the following articles.
Ratifiers[?]
The treaty has been formally ratified by the following nations.
| Nation | Date |
| Repubblica Istaliana (Istalia) | February 4337 |
Pending Ratifications
Compliance[?]
The treaty contains no articles that can be verified.
Ratification
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Ratification Map
| Random fact: Zardugal is a nation based on the old Byzantine Empire, with a modern twist and the Esperanto language. Zardugal is located on the continent of Majatra. |
| Random quote: “Tell these old, grey men that their time is over. Tell them to give us back our future, and then get lost!” - Benji Benandez, former Dranian politician |