The Corrish Special Economic Trade Zone Agreement (SETZA)
Foreign Consumer Nations: Corrington (Founder), South Americanastan (Co-Founder), Zarnicovia Nova, Tyrantio Land, Independent State of New Zealand, Romextly, Chuying, Trenaka, Arvan Irawer, United Australasian Commonwealth, Countesia, Dalmannia
Host Nations: Nordeslund, Arab Republic of Botswana, Islamic Holy Sites, Southeast Marajarbia, Earth Allies, Valkica, Malandrin, Tzatzikistan, Panama Coalition
Multinational Corporations Involved: The Merchant Marine Trading Company (Corrington), Arvan Trade (Arvan Irawer), General Motors South Africa (United Australasian Commonwealth), Southeast Marajarbian Trading Corporation (Southeast Marajarbia), Majevski Aero AG (Dalmannia)
The Corrish Special Economic Trade Zone Agreement is implemented between the United Kingdom of Corrington, the Federation of South Americanastan, and other Foreign Consumer Nations and the signing state, after agreeing to fully consent to this binding agreement in the spirit of friendship and mutual prosperity, in order to establish Specialized Economic Zones through relational free trade.
This agreement acknowledges the following:
- Less developed economies which are purely owned by government and state industry rarely achieve necessary growth to pull the country out of poverty
- Natural resources present in certain states ought to be utilized in order to make those states profitable and thriving markets to improve the quality of their citizens’ lives
- Relational free trade agreements such as this intend to join successful nations and transnational corporations with less developed economies to bring all parties to a higher degree of prosperity
By participating in the Corrish Special Economic Trade Zone Agreement (SETZA), Corrington and the host nation agree to the following:
Section 1. Territorial Grant
The Host Nations in this agreement shall grant at least seven portions of territory to establish Specialized Economic Zones including trading areas and manufacturing centers, to be leased in perpetuity to the Foreign Consumer Nations of this contract.
Section 2. Specialized Economic Zones
Establishes the Specialized Economic Zones as being defined as areas of optimal territory provided by the Host Nation in which tax incentives are implemented to the trade companies and governments of Foreign Consumer Nations and less stringent environmental regulations are present. The stated operations occurring within Specialized Economic Zones include (but are not limited to):
a) Trading ports and sites
b) Manufacturing plants and factories
c) Mining and Harvesting sites
Section 3. Refraining From Unlawful Interference
Both the Host Nations and the Foreign Consumer Nations shall commit to respecting the control and management of the specialized economic zone, the autonomy of the Specialized Economic Zone, and shall refrain from interfering in the operations of manufacturing and trade zones.
Section 4. Generation of Revenue for Host Nation
The foreign governments operating in the specialized economic zone must set aside 10% of all revenues generated within the specialized economic zone to the host government annually.
Section 5. Reduction of Economic Barriers
The Host and Foreign Consumer shall henceforth agree to remove taxes on trade, import quotas and tariffs, and restrictive regulation, and to provide subsidies to the industries of Foreign Consumer Nations in order to stimulate maximum productivity and enable a surplus. Further, Foreign Consumer Nations are free to pay a higher-than-domestically-expected wage to workers who are citizens of the Host Nation.
Section 6. Defense
In the event of war, terrorism or natural disaster, the Foreign Consumer Nation and the Host Nation may request for assistance in the form of military forces or humanitarian relief, as deemed necessary by the government of Host Nation. Militarized trading corporations such as Corrington’s M.M.T.C. are legally permitted to conduct both defense and business through this agreement.
Section 7. Reserve Currency
Establishes the Corrish Pound, the South Americanastanian Americana and potentially other currencies of Foreign Consumer Nations as reserve currencies stored in significant quantities by the Foreign Consumer Nations and the Host Nations in order to make transactions more fluent and efficient. The currencies of Foreign Consumer Nations are chosen because they are generally of higher value than the currencies of the developing Host Nations.
Section 8. Collateral
Foreign Consumer Nations may request collateral financial assets of one another in order to secure and reinforce their commitment to SETZA.
Section 9. Denial of Applications
Corrington, South Americanastan and Foreign Consumer Nations have the power to deny the applications of nations on any basis, as they reserve the right to choose with which countries they shall conduct business. They must confirm every signing applicant before business may be conducted.
Section 10. Additional Protocols
Corrington, South Americanastan and additional Foreign Consumer Nations and the Host Nation may implement further protocols which may revise or improve the terms of this agreement.
Section 11. Confirmation of Membership
All Host Nations to this agreement are highly encouraged to add ‘SETZA Host Nation’ to their NS Signature.
Signature:
x.________________________________________
