Category: Free Trade - Strength: Significant
THE GENERAL ASSEMBLY
Recalling its objectives to promote international friendship and harmony among nations
Further recalling its efforts at achieving harmonisation of many areas of mutual interest
Noting, however, that there are no free trade areas between states
Considering that a free trade area would further harmonise the relationships between Member States
THEREFORE DECIDES THAT
PART I - THE WORLD ASSEMBLY FREE TRADE AREA
1. There shall be a World Assembly Free Trade Area (referred to as "WAFTA").
2. All Member States of the World Assembly shall automatically be members of WAFTA
3. Member states are required to reduce or eliminate all barriers to trade with other member states, except where such barriers are required by previous GA legislation. Barriers caused by interstate warfare are excluded from WAFTA's purview.
4. Member states may maintain such tariffs, taxes, barriers or other pre-existing economic policies in trade with non-member states
PART II - THE COMMISSION ON FREE TRADE
5. The Commission on Free Trade is hereby established in order to supervise the proper functioning of WAFTA
6. The Commission shall be entitled to issue such decisions, rules and directives in order to implement the objectives of WAFTA
7. Where the Commission finds that a member of WAFTA is in breach of its obligations under this Resolution, it may issue rulings or decisions as it sees fit against the offending Member state in order to require their compliance with WAFTA
Comments? Queries? Suggestions? Please be aware it's my first go, so be nice to me...please?