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Lourenne-Vorona Free Trade Agreement (LVFTA)
This treaty was drafted in January 4635 by the 
Parti de la Restauration National.
Status: ratification[?]
Description[?]
| Preamble:- the nations of the Royaume Uni de Lourenne (United Kingom of Lourenne) and the Republic of Vorona hereby establish a treaty of free trade and cooperation in order to facilitate a beneficial partnership between both nations. Article I: Market Access Retail goods to Lourennais consumers from Vorona and vice-versa shall receive a duty of 0%. However, items sold in large quantity (bulk) through business-to-business and business-to-government shall receive a 3.5% tariff both ways if the total volume of trade for the fiscal year is not projected to reach 10 billion LOD; a 2.5% tariff both ways if the total volume of trade is projected to be 10 billion LOD to 25 billion LOD; a 1.5% tariff both ways if the total volume of trade for the fiscal year is projected to be 25 billion LOD to 50 billion LOD; and a 0% tariff both ways if the total volume of trade is projected to exceed 50 billion LOD. (Vorona Wholesale to Lourenne and Lourennais Wholesale to Vorona Article II: Trade Promotion The contracting nations pledge to establish trade promotion programs, facilitate private and public trade missions and promote the continuous exchange of information, market studies and activities leading to the maximum utilization of opportunities offered by the liberalization of trade Article III: Customs and Excise Co-operation The contracting nations via their Customs and Excise Authorities agree to speed up the movement of goods and clearance through Customs as well as simplify and make available to the trading community information on procedures for the international transit of goods, the required documentation and the mode of transport. Article IV: 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, agriculture and military equipment and accessories, spare parts, lubricants, oils, technology, software, radar technology, military equipment and any other equipment apart of the groups above. Article V: Offshore Accounts Taxation Act The contracting nation agree to allow for the Royal Lourennais Ministry of Finance the ability to gain access to the accounts of Lourennais nationals residing in the contracting nation with accounts in banks with Lourennais ties, thus allowing for the taxation of said accounts. Article VI: Relocation of Operations As apart of this treaty, Voronan and Lourennais companies has full autonomy to conduct operations in Lourenne in order to expand deeper into the Dovanian markets. By doing this the listing fees of companies will be waved and 99.99% of the shares will be retain by the owners and 0.1% to public trading. Article VII: Compensation for Loses The contracting nations whose investments are lost to a nationalization or other state confiscation not ordered by a duly constituted court of law in pursuance of criminal prosecution made by due process of law is 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 good will. Article VIII: Agricultural Free Trade Agreement 1- The Nation's Agricultural Markets are linked and, cooperation will be encouraged in terms of techniques ect. 2- Free Trade agricultural market between Republic of Vorona and United Kingdom of Lourenne, eg.. Farmers pay no tariffs on their goods/ livestock 3- A mutual agricultural fair will take place in one nation each year where farmers can sell/ trade their goods and livestock promoting friendship and cooperation between the two markets 4- Farmers agree to discount prices when selling their goods to the opposite nation. Article IX: Ratification All long as the Royaume Uni de Lourenne(United Kingdom of Lourenne ) and/or the Republic of Vorona have not withdrawn from the treaty 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 |
| Royaume Uni de Lourenne (Lourenne) | March 4636 |
Pending Ratifications
Compliance[?]
The treaty contains no articles that can be verified.
Ratification
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Ratification Map
| Random fact: Parties have the ability to endorse another party's candidate for the Head of State election (if there is one). This adds a strategic element to the elections. |
| Random quote: "Don't blow it, good planets are hard to find." - Quoted in Time Magazine |