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Eurasian-Midwayan
Trade Pact
Type of treaty Trade pact
Drafted 15 September 2012
Signed
- location
20 September 2012
Aldebaran, Union of Midway
Ratified MidwayFlag22 September 2012
AUE23 September 2012
Sealed 24 September 2012
Effective
- condition
23 October 2012
A month after ratification
Expiration
- condition
None/Indefinite
A month before cancellation
Signatories AUEEurasian Federation
MidwayFlagUnion of Midway
Depositary Eurasian Federation
Language English

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.

Article 1Edit

Implementation

Section 1Edit

Every term and condition stated in this treaty must be mutually enforced by both signatory parties.

Section 2Edit

A set amount, percentage, worth or measurement prescribed in this treaty must be followed by both signatory parties.

Section 3Edit

Acknowledging that economic environments differ from each other, a compromise may be allowed given that the other party has been notified.

Section 4Edit

This treaty would be introduced and take into effect a month after signatory parties have signed it.

Article 2Edit

Equivalent Exchange

Section 1Edit

A compensation must be given in exchange for a compromise.

Section 2Edit

Both parties must gain equally from this treaty.

Section 3Edit

Trade barriers for a certain agreed product must be the same for both signatory parties.

Article 3Edit

Free trade on seafood, agricultural products, and mined products (minerals, rocks, and ores)

Section 1Edit

Elimination of tariffs to all of the goods specified.

Section 2Edit

Elimination of import quotas to all of the goods specified.

Section 3Edit

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.

Article 4Edit

Establishment of preferential trading

Section 1Edit

Tariffs should be lowered by at least 5% on every goods exported and imported between the signatory parties.

Section 2Edit

Tariff-rate quotas may be enforced on certain goods given that the other party has been notified and accepted the recommendation.

Section 3Edit

Import quotas on every goods between the signatory parties should be the same and would be increased by 20%.

Section 4Edit

This article does not apply to goods specified in Article 3.

Article 5Edit

Establishment of a bilateral investment agreement

Section 1Edit

Both parties agree on providing guarantees on foreign entities conducting foreign direct investments between the two signatory parties.

Section 2Edit

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.

Section 3Edit

Confiscation of any property owned by a foreign investing entity is not allowed unless approved by both signatory parties.

Section 4Edit

Both signatory parties may investigate any foreign investing entity operating in the two countries.

Section 5Edit

A foreign investing entity harassed or had their rights violated would be given just compensation by the country involved.

Article 6Edit

Mitigating double taxes

Section 1Edit

Establishment of a mutual foreign tax credit system on certain subjects for taxation.

Section 2Edit

Credits may only be given if it has been approved by the two signatory parties.

Section 3Edit

Certain liabilities agreed upon would still be taxed given that it has already paid withholding tax.

Article 7Edit

Freedom of movement for workers

Section 1Edit

National treatment must be enforced.

Section 2Edit

Abolition of any discrimination based on nationality, ethnicity, and religion in employment.

Section 3Edit

Equal rights and standards for working conditions.

Section 4Edit

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.

Section 5Edit

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.

Section 6Edit

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).

Section 7Edit

Extradition of illegal aliens and workers or those arrested for a crime (home country must deal proper punishment according to their law).

Section 8Edit

Repatriation of overstayed workers (fine and/or ban from leaving home country again).

Article 8Edit

Most favored nation

Section 1Edit

Both signatory parties must receive equal trade advantages with other countries they also are conducting business with respectively.

Section 2Edit

Both signatory parties will not be treated less advantageously than any other country they each have trades with.

Section 3Edit

Both signatory parties would have the equal trade advantages with each other.

Article 9Edit

Amendments and cancellation

Section 1Edit

Amendments to the treaty may be proposed and discussed between signatory parties.

Section 2Edit

Implementation of new clauses to this treaty would be after 1 month has passed with no formal objections.

Section 3Edit

An announcement of nullifying this agreement must be formally given to the other signatory party a month prior to the planned cancellation.

SignedEdit

For the Eurasian Federation

  • AUEcoa2ReyneirzeGallis-sign - Reyneir ze Gallis, Chairman
  • AlejandroErde-sign - Alejandro Erde, Secretary of Economy and Trade

For the Union of Midway

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