|Type of treaty||Trade pact|
|Drafted||15 September 2012|
| 20 September 2012|
Aldebaran, Union of Midway
|Ratified|| 22 September 2012|
23 September 2012
|Sealed||24 September 2012|
| 23 October 2012|
A month after ratification
A month before cancellation
|Signatories|| Eurasian Federation|
Union of Midway
The Eurasian-Midwayan Trade Pact is a trade pact between the Union of Midway and the Eurasian Federation, the latter having initiated its conception and drafting. It is considered to be a binding framework covering and encouraging investments and trade and enhancing the freedom of movement of all factors of production. The treaty also specifies free trade on key import products of both signatory parties which will be exported by the other: seafood, agricultural produce, and minerals. Tariffs, quotas, other non-tariff trade barriers will be selectively eliminated or reduced upon mutual agreement between Eurasia and Midway.
Every term and condition stated in this treaty must be mutually enforced by both signatory parties.
A set amount, percentage, worth or measurement prescribed in this treaty must be followed by both signatory parties.
Acknowledging that economic environments differ from each other, a compromise may be allowed given that the other party has been notified.
This treaty would be introduced and take into effect a month after signatory parties have signed it.
A compensation must be given in exchange for a compromise.
Both parties must gain equally from this treaty.
Trade barriers for a certain agreed product must be the same for both signatory parties.
Free trade on seafood, agricultural products, and mined products (minerals, rocks, and ores)
Elimination of tariffs to all of the goods specified.
Elimination of import quotas to all of the goods specified.
Total exports per fiscal year must worth a gold standard of at least 20kg on seafood from Midway and agricultural and/or mined products from Eurasia.
Establishment of preferential trading
Tariffs should be lowered by at least 5% on every goods exported and imported between the signatory parties.
Tariff-rate quotas may be enforced on certain goods given that the other party has been notified and accepted the recommendation.
Import quotas on every goods between the signatory parties should be the same and would be increased by 20%.
This article does not apply to goods specified in Article 3.
Establishment of a bilateral investment agreement
Both parties agree on providing guarantees on foreign entities conducting foreign direct investments between the two signatory parties.
Foreign investing entities subjected to a judicial case concerning their line of profession would be tried by a joint court of the two signatory parties.
Confiscation of any property owned by a foreign investing entity is not allowed unless approved by both signatory parties.
Both signatory parties may investigate any foreign investing entity operating in the two countries.
A foreign investing entity harassed or had their rights violated would be given just compensation by the country involved.
Mitigating double taxes
Establishment of a mutual foreign tax credit system on certain subjects for taxation.
Credits may only be given if it has been approved by the two signatory parties.
Certain liabilities agreed upon would still be taxed given that it has already paid withholding tax.
Freedom of movement for workers
National treatment must be enforced.
Abolition of any discrimination based on nationality, ethnicity, and religion in employment.
Equal rights and standards for working conditions.
The right to stay in the country of employment for as long as the individual has a legal profession in that country or is there to conduct business.
A foreigner may be given a 1-month stay in the other country, even if unemployed, for the purpose of finding another job or for setting up a business but is still subjected for approval of both signatory parties.
Repatriation of abused/maltreated workers with just compensation from the country involved (country involved must deal with the accused employer or employment agency according to their law).
Extradition of illegal aliens and workers or those arrested for a crime (home country must deal proper punishment according to their law).
Repatriation of overstayed workers (fine and/or ban from leaving home country again).
Most favored nation
Both signatory parties must receive equal trade advantages with other countries they also are conducting business with respectively.
Both signatory parties will not be treated less advantageously than any other country they each have trades with.
Both signatory parties would have the equal trade advantages with each other.
Amendments and cancellation
Amendments to the treaty may be proposed and discussed between signatory parties.
Implementation of new clauses to this treaty would be after 1 month has passed with no formal objections.
An announcement of nullifying this agreement must be formally given to the other signatory party a month prior to the planned cancellation.
For the Eurasian Federation
For the Union of Midway