Regional Trade and Economic Agreement (RTEA)
A free-trade organisation set in The Western Isles
Link to the dispatch: Click Here
The Regional Trade and Economic Agreement (RTEA) is an organisation that aims to cover the negotiation of agreements related to intra-regional trade in goods, trade in services, investment, economic and technical cooperation, intellectual property, competition, dispute settlement and other issues. As expected, Alteran Republics will be in the "driver's seat" of this multilateral trade arrangement - though it will remain a strictly multi-national organisation. Rather than a close military union (like the MSTO) or the merging of multinational economics and political structures into one union (like the C.U.) - RTEA has much looser restrictions for its member nations; citing the enterprise of mutual trade, scientific endeavours and economic prosperity of its members as its joint goal.
RTEA's founding principles are based on the belief that trade can bring the region closer together. We believe that a trading system should be:
- Without Discrimination -- a country should not discriminate between its trading partners, nor discriminate between its own and foreign products, services or nationals;
- Freer -- barriers coming down through negotiation and mutual understanding, not rapidly drawn and enforced without a period of adjustment;
- Predictable -- foreign companies, investors and governments should be confident that trade barriers (including tariffs and non-tariff barriers) should not be raised arbitrarily and that tariff rates and market-opening commitments are “bound” in RTEA;
- More Competitive -- discouraging “unfair” practices such as export subsidies and dumping products at below cost to gain market share.
The aims of the Regional Trade and Economic Agreement are to promote:
- 1. Investment and Opportunities
We will strive to assist RTEA member countries in attracting high-quality investment and employment opportunities in their own nations and abroad, in order to create and promote a high-yielding economy.
2. Overseas Trade and Investment
We will aim to promote and expand intra-RTEA membership trade and investment to encourage a spirit of economic cooperation and shared prosperity.
3. Sustainable Growth and Responsible Capitalism
We will aim to help establish and promote the idea “conditions for growth” in RTEA member countries and work to improve economic governance, transparency and accountability - including the use of free trade agreements.
4. Cooperative Development
We will continue to create economic and social prosperity by supporting the development of enterprise in member countries through capacity building, mentoring and enhanced access to domestic, regional and international markets.
5. Supporting the Private Sector
We will represent the views of the private sector to the RTEA members, its member Governments, multi-nation organisations and the wider international community.
OOC chat thread, only for established members of The Western Isles region who is, or displays an interest, in the RTEA agreement
The theory behind this thread is for the OOC chat between member states regarding RTEA matters - new members, clarifying and establishing trade deals within RTEA, and so on and so forth ... and yes, I know Franco-Albion, Gudao and Albion_Invicta ( [F] ) all had the same idea ... that was me too. #SuchOriginal #IdeaNew #Wow
